N.D. Cent. Code § 4.1-58-35
This is the official text of N.D. Cent. Code § 4.1-58-35, 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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4.1-58-35. Grain to be kept insured for benefit of owner by warehouseman
Official statutory text
4.1-58-35. Grain to be kept insured for benefit of owner by warehouseman
A public warehouseman license is not effective unless all grain in storage or on deposit in
the warehouse is kept fully insured at the expense of the warehouseman for the benefit of the
owner at the current market value of the grain against loss by fire, lightning, internal explosion,
windstorm, cyclone, tornado, and other risks of direct physical loss as provided by the insurer in
a policy approved by the insurance commissioner. An insurance policy covering grain in a public
warehouse may not be transferred or assigned to any person for any purpose, except for grain
that is not on warehouse receipt or deposit. The insurance policy must be continuous and may
only be canceled in accordance with section 4.1-58-36.
A public warehouseman license is not effective unless all grain in storage or on deposit in
the warehouse is kept fully insured at the expense of the warehouseman for the benefit of the
owner at the current market value of the grain against loss by fire, lightning, internal explosion,
windstorm, cyclone, tornado, and other risks of direct physical loss as provided by the insurer in
a policy approved by the insurance commissioner. An insurance policy covering grain in a public
warehouse may not be transferred or assigned to any person for any purpose, except for grain
that is not on warehouse receipt or deposit. The insurance policy must be continuous and may
only be canceled in accordance with section 4.1-58-36.
Status: in_force · Read it on the official government site
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