N.D. Cent. Code § 4.1-25-17
This is the official text of N.D. Cent. Code § 4.1-25-17, 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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4.1-25-17. Remedy of claimants - Separate action by claimant permissible
Official statutory text
4.1-25-17. Remedy of claimants - Separate action by claimant permissible
A claimant has no separate claim for relief against the required security of a licensee unless
the department fails or refuses to apply for appointment as trustee under this chapter. Any
claimant, either independently or in conjunction with other claimants, may pursue concurrently
with the department any other remedy the claimant or claimants may have against the licensee,
or against the property of the licensee, for the whole of their claim or claims or for any deficiency
that occurs after payments have been made from the trust fund.
A claimant has no separate claim for relief against the required security of a licensee unless
the department fails or refuses to apply for appointment as trustee under this chapter. Any
claimant, either independently or in conjunction with other claimants, may pursue concurrently
with the department any other remedy the claimant or claimants may have against the licensee,
or against the property of the licensee, for the whole of their claim or claims or for any deficiency
that occurs after payments have been made from the trust fund.
Status: in_force · Read it on the official government site
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