N.D. Cent. Code § 3-06-05
This is the official text of N.D. Cent. Code § 3-06-05, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
3-06-05. Liability under guaranty commission
Official statutory text
3-06-05. Liability under guaranty commission
A factor who charges the factor's principal with a guaranty commission upon a sale thereby
assumes absolutely to pay the price when it falls due as if it were a debt of the factor's own and
not as a mere guarantor for the purchaser, but the factor does not thereby assume any
additional responsibility for the safety of the factor's remittance of the proceeds.
A factor who charges the factor's principal with a guaranty commission upon a sale thereby
assumes absolutely to pay the price when it falls due as if it were a debt of the factor's own and
not as a mere guarantor for the purchaser, but the factor does not thereby assume any
additional responsibility for the safety of the factor's remittance of the proceeds.
Status: in_force · Read it on the official government site
Need a lawyer in North Dakota?
Find a North Dakota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.