The House Agriculture and Natural Resources Committee gives hearing and quick passage to a bill designed to help prevent another Anderson Seed case. That company moved to Redfield with state economic help and later closed, leading to more than two-million dollars in losses for 69 producers. The company had posted only a 100-thousand dollar bond as required by state law. Public Utilities Commissioner Chris Nelson presented the bill Thursday morning. One of the key new provisions requires firms to notify the P-U-C if they hit the financial skids…
Nelson says it also increases the bond categories, based on the amount of grain sold, to a maximum of 500-thousand dollars. The bill has the support of the industry including Kathy Zander, Executive Director and lobbyist for the South Dakota Grain and Feed Association…
No one spoke against the measure, it was approved 13-zero,
and now moves to the house floor.