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Published April 06 2012

SD PUC works to seize seed company’s bond

SIOUX FALLS, S.D. – The South Dakota Public Utilities Commission is seeking court approval to seize a $100,000 bond from a sunflower seed company that owes farmers in South Dakota and North Dakota about $4 million.

Anderson Seed Co. posted the bond in order to receive its grain-buyers license. The Argus Leader newspaper reports that a hearing on the request by South Dakota regulators to seize the bond is set for May 1 in Spink County.

Anderson Seed is based in Mentor, Minn. North Dakota’s Public Service Commission has gone to court to take the company’s $280,000 bond in that state.