N.D. Cent. Code § 4.1-61-05
This is the official text of N.D. Cent. Code § 4.1-61-05, 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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4.1-61-05. Credit-sale contract indemnity fund - Availability of money
Official statutory text
4.1-61-05. Credit-sale contract indemnity fund - Availability of money
Upon the insolvency of a licensed warehouse or a grain buyer and a declaration the
commissioner serve as the trustee, the commissioner shall make the proceeds of the credit-sale
contract indemnity fund available for use in meeting the licensee's obligations with respect to
the reimbursement of a person that sold grain to the licensee under a credit-sale contract and
who was not fully compensated in accordance with the contract.
Upon the insolvency of a licensed warehouse or a grain buyer and a declaration the
commissioner serve as the trustee, the commissioner shall make the proceeds of the credit-sale
contract indemnity fund available for use in meeting the licensee's obligations with respect to
the reimbursement of a person that sold grain to the licensee under a credit-sale contract and
who was not fully compensated in accordance with the contract.
Status: in_force · Read it on the official government site
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