SD PUC gets OK to use sunflower company's bond to repay farmers
REDFIELD (AP) -- A judge has given South Dakota regulators approval to use a $100,000 bond posted by a sunflower seed company that owes farmers in the Dakotas about $4 million.
According to media reports, the bonding company for Anderson Seed Co. did not fight the request by the Public Utilities Commission in court on Tuesday. Judge Tony Porta granted the PUC control of the bond that Anderson Seed posted in order to receive its grain-buyers license.
South Dakota farmers who attended Tuesday's hearing say they are upset with the situation. Candice Mizera says the $100,000 bond is so low it will do little to help farmers.
Regulators in North Dakota have gone to court to take Anderson Seed's $280,000 bond in that state.