North Dakota § 4.1-58-28 Receiptholder's lien

North Dakota Statutes

§ 4.1-58-28 — Receiptholder's lien

North Dakota·Title 4.1 Agriculture·Ch. 4.1-58 Grain and Seed Warehouses

Grain contained in a warehouse, including grain owned by the warehouseman, is subject to
a first priority lien for outstanding receiptholders storing, selling, or depositing grain in the
warehouse. The lien created under this section is preferred to any lien or security interest for
any creditor of the warehouseman regardless of the time when the creditor's lien or security
interest attached to the grain. Notice of the lien created under this section need not be filed to
perfect the lien. The lien created by this section is discharged as to grain sold by the
warehouseman to a buyer in the ordinary course of business. The sale does not discharge the
lien for an individual receiptholder in the remaining grain in the warehouse.

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Grain contained in a warehouse, including grain owned by the warehouseman, is subject to
a first priority lien for outstanding receiptholders storing, selling, or depositing grain in the
warehouse. The lien created under this section is preferred to any lien or security interest for
any creditor of the warehouseman regardless of the time when the creditor's lien or security
interest attached to the grain. Notice of the lien created under this section need not be filed to
perfect the lien. The lien created by this section is discharged as to grain sold by the
warehouseman to a buyer in the ordinary course of business. The sale does not discharge the
lien for an individual receiptholder in the remaining grain in the warehouse.

North Dakota § 4.1-58-28 (Receiptholder's lien) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.