An Omaha‑based agricultural company will pay a $5,000 civil penalty after reaching a settlement with the South Dakota Public Utilities Commission.
The Scoular Company failed to promptly notify the commission last year that its quarterly balance sheet no longer showed current assets exceeding current liabilities, a requirement for licensed grain buyers. The settlement was approved unanimously by the commission on Thursday.
Scoular has since returned to compliance by restructuring some short‑term debt into long‑term debt, according to corporate controller Nick Ketcham. He said the lapse occurred during a complex financial restructuring and called it an oversight, adding that new controls are now in place.
PUC staff said the company has been cooperative, and commissioners reported no complaints from producers about Scoular’s operations.
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