Section 49-45-28 - Parent company furnishing financial statements responsible for financial obligations of licensed entity

49-45-28. Parent company furnishing financial statements responsible for financial obligations of licensed entity.If an applicant for a grain buyer license that is a subsidiary of a parent company submits the financial statements of the parent company, the parent company furnishing the financial statements is responsible for all the financial obligations incurred by the licensed entity related to the purchase and storage of grain, including any voluntary credit sale contract. Source: SL 2013, ch 238, §20, eff. Apr. 1, 2013; SL 2015, ch 236, §2.