N.D. Cent. Code § 4.1-83-05
This is the official text of N.D. Cent. Code § 4.1-83-05, 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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4.1-83-05. Application for license - Posting of bond
Official statutory text
4.1-83-05. Application for license - Posting of bond
1. As a condition of licensure, the applicant shall post a bond with the agriculture
commissioner. The bond must be:
a. A surety bond;
b. A cash bond; or
c. An irrevocable letter of credit.
2. The agriculture commissioner must be named as the obligee.
3. The bond required by this section must be:
a. In an amount and form required by this chapter;
b. Applicable to the period during which the livestock dealer's license is in effect;
c. For the benefit of any person selling livestock to the livestock dealer or the
dealer's agent; and
d. Conditioned for the payment of any financial obligation owed by a livestock dealer
to another person in conjunction with the sale of livestock.
1. As a condition of licensure, the applicant shall post a bond with the agriculture
commissioner. The bond must be:
a. A surety bond;
b. A cash bond; or
c. An irrevocable letter of credit.
2. The agriculture commissioner must be named as the obligee.
3. The bond required by this section must be:
a. In an amount and form required by this chapter;
b. Applicable to the period during which the livestock dealer's license is in effect;
c. For the benefit of any person selling livestock to the livestock dealer or the
dealer's agent; and
d. Conditioned for the payment of any financial obligation owed by a livestock dealer
to another person in conjunction with the sale of livestock.
Status: in_force · Read it on the official government site
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