N.D. Cent. Code § 4.1-57-05
This is the official text of N.D. Cent. Code § 4.1-57-05, 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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4.1-57-05. Termination of bond - Notice to seed commissioner - Suspension of license
Official statutory text
4.1-57-05. Termination of bond - Notice to seed commissioner - Suspension of
license.
The surety may terminate its liability under a bond by giving the seed commissioner at least
ninety days' written notice of intent to terminate. The surety is released from all future liability
accruing on the bond after the expiration of ninety days from the date the seed commissioner
received the notice or on a later date specified by the surety. This section does not relieve,
release, or discharge the surety from any liability incurred before the expiration of the ninety-day
period. Unless the wholesale potato dealer files a new bond or an irrevocable letter of credit at
least thirty days before the surety's liability ceases, the seed commissioner, without hearing,
shall suspend the wholesale potato dealer's license. The seed commissioner may not remove
the suspension until a new bond or an irrevocable letter of credit has been filed with and
approved by the seed commissioner.
license.
The surety may terminate its liability under a bond by giving the seed commissioner at least
ninety days' written notice of intent to terminate. The surety is released from all future liability
accruing on the bond after the expiration of ninety days from the date the seed commissioner
received the notice or on a later date specified by the surety. This section does not relieve,
release, or discharge the surety from any liability incurred before the expiration of the ninety-day
period. Unless the wholesale potato dealer files a new bond or an irrevocable letter of credit at
least thirty days before the surety's liability ceases, the seed commissioner, without hearing,
shall suspend the wholesale potato dealer's license. The seed commissioner may not remove
the suspension until a new bond or an irrevocable letter of credit has been filed with and
approved by the seed commissioner.
Status: in_force · Read it on the official government site
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