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Regulators Step In at Avon, SD, Elevator

Immediate goal is to have all Farmers Cooperative Elevator producers paid


The South Dakota Public Utilities Commission wound up 70 minutes of discussion about the financial situation at Farmers Cooperative Elevator in Avon, SD, on Friday with a 3-0 vote to ask a circuit judge to appoint the commission as receiver, reports KELOLand.

The immediate goal is to have all grain producers paid. There reportedly are 46 contracts and two cash sales outstanding. A dollar amount wasn’t disclosed.

State law said payouts must have occurred no later than Saturday, July 10.

Elevator manager Kevin Tjeerdsma told the commission Friday the elevator’s bank has called a note to be paid November 15. That led to falling out of short-term compliance with state laws for grain-buyer and warehouse licenses.

Read the full report here.

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