N.D. Cent. Code § 4.1-13-16
This is the official text of N.D. Cent. Code § 4.1-13-16, 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.
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4.1-13-16. Collection of assessment - Records
Official statutory text
4.1-13-16. Collection of assessment - Records
1. The first purchaser shall collect the assessment from the seller by deducting the
assessment from the total price of the wheat being purchased. If the wheat is subject
to a lien, pledge, or mortgage, the assessment must:
a. Be deducted from the proceeds of the loan; or
b. The claim must be secured and must be subject to adjustment at the time of
settlement if the number of bushels [liters] is not accurately determined at the
time of the lien, pledge, or mortgage.
2. At the time of the sale, the first purchaser shall provide a record of the transaction to
the seller in the manner prescribed by the commission.
1. The first purchaser shall collect the assessment from the seller by deducting the
assessment from the total price of the wheat being purchased. If the wheat is subject
to a lien, pledge, or mortgage, the assessment must:
a. Be deducted from the proceeds of the loan; or
b. The claim must be secured and must be subject to adjustment at the time of
settlement if the number of bushels [liters] is not accurately determined at the
time of the lien, pledge, or mortgage.
2. At the time of the sale, the first purchaser shall provide a record of the transaction to
the seller in the manner prescribed by the commission.
Status: in_force · Read it on the official government site
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