N.D. Cent. Code § 4.1-48-05

This is the official text of N.D. Cent. Code § 4.1-48-05, 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.

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4.1-48-05. Recapture of capital investment required by a potato production contract

Official statutory text

4.1-48-05. Recapture of capital investment required by a potato production contract

1. A contractor may not terminate or cancel a contract that requires a producer to make a

capital investment in buildings or equipment that cost one hundred thousand dollars or

more and have a useful life of five or more years until:

a. The producer has been given written notice of the intention to terminate or cancel

the contract at least one hundred eighty days before the effective date of the

termination or cancellation, or as provided in subsection 3; and

b. The producer has been reimbursed for damages incurred by an investment in

buildings or equipment that was made for the purpose of meeting minimum

requirements of the contract.

2. Except as provided in subsection 3, if a producer fails to comply with the provisions of

a contract that requires a capital investment subject to subsection 1, a contractor may

not terminate or cancel that contract until:

a. The contractor has given written notice with all the reasons for the termination or

cancellation at least ninety days before termination or cancellation, or as provided

in subsection 3; and

b. The recipient of the notice fails to correct the reasons stated for termination or

cancellation in the notice within sixty days of receipt of the notice.

3. The one hundred eighty-day notice period under subsection 1, and the ninety-day

notice period and the sixty-day notice period under subsection 2, are waived and the

contract may be canceled or terminated immediately if the alleged grounds for

termination or cancellation are:

a. Voluntary abandonment of the contract relationship by the producer; or

b. Conviction of the producer of an offense directly related to the business

conducted under the contract.

Status: in_force · Read it on the official government site

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