North Dakota § 4.1-57-04 Application for license - Required security

North Dakota Statutes

§ 4.1-57-04 — Application for license - Required security

North Dakota·Title 4.1 Agriculture·Ch. 4.1-57 Potato Dealers

1.As a condition of licensure, the seed commissioner shall require an applicant to file:

a.A cash bond or a surety bond, in an amount and form determined by the seed commissioner; or

b.An irrevocable letter of credit.

2.The security required by the seed commissioner under subsection 1 is for the benefit of potato producers in this state and must be conditioned for the payment of any financial obligation owed by a wholesale potato dealer to a potato producer in this state.

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1. As a condition of licensure, the seed commissioner shall require an applicant to file:
a. A cash bond or a surety bond, in an amount and form determined by the seed
commissioner; or
b. An irrevocable letter of credit.
2. The security required by the seed commissioner under subsection 1 is for the benefit
of potato producers in this state and must be conditioned for the payment of any
financial obligation owed by a wholesale potato dealer to a potato producer in this
state.

North Dakota § 4.1-57-04 (Application for license - Required security) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.