N.D. Cent. Code § 4.1-59-26
This is the official text of N.D. Cent. Code § 4.1-59-26, 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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4.1-59-26. Remedy of receiptholders
Official statutory text
4.1-59-26. Remedy of receiptholders
A receiptholder does not have a separate claim for relief upon any insolvent licensee's
bond, for insurance, against any person converting grain, nor against any other receiptholder,
except through the trustee, unless, upon demand of five or more receiptholders, the
commissioner fails or refuses to apply for the commissioner's own appointment or unless the
district court denies the application. This chapter does not prohibit a receiptholder, either
individually or with other receiptholders, from pursuing concurrently any other remedy against
the person or property of the licensee.
A receiptholder does not have a separate claim for relief upon any insolvent licensee's
bond, for insurance, against any person converting grain, nor against any other receiptholder,
except through the trustee, unless, upon demand of five or more receiptholders, the
commissioner fails or refuses to apply for the commissioner's own appointment or unless the
district court denies the application. This chapter does not prohibit a receiptholder, either
individually or with other receiptholders, from pursuing concurrently any other remedy against
the person or property of the licensee.
Status: in_force · Read it on the official government site
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