South Dakota Codified Laws 40-15-3. Application for auction agency license–Contents
All applications for a license to operate a livestock auction agency shall be made in writing to the Animal Industry Board in the form prescribed by the board and shall contain:
(1) The name and addresses of the applicant and all persons having any financial interest in the application and the amount of such interest;
Terms Used In South Dakota Codified Laws 40-15-3
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
(2) Financial responsibility of the applicant in the form of a statement of assets and liabilities;
(3) A legal description of the property and its location together with a description of the facilities proposed to be used in the operation of such livestock auction agency;
(4) A statement of the facts upon which the applicant relies, the benefits to be derived by the livestock industry and the services proposed to be rendered regularly through the year;
(5) Applicant’s experience in the livestock industry including any past operation of a livestock auction agency.
Source: SDC 1939, § 40.2002 as added by SL 1961, ch 204, § 2; SL 1990, ch 325, § 239.