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 § 4.1-57-04

Title 4.1Agriculture

Ch. 4.1-57Potato Dealers

This text of North Dakota § 4.1-57-04 (Application for license - Required security) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 4.1-57-04 (2026).

Text

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.