North Dakota § 4.1-58-35 Grain to be kept insured for benefit of owner by warehouseman

North Dakota Statutes

§ 4.1-58-35 — Grain to be kept insured for benefit of owner by warehouseman

North Dakota § 4.1-58-35

Title 4.1Agriculture

Ch. 4.1-58Grain and Seed Warehouses

This text of North Dakota § 4.1-58-35 (Grain to be kept insured for benefit of owner by warehouseman) 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 § 4.1-58-35 (2026).

Text

A public warehouseman license is not effective unless all grain in storage or on deposit in
the warehouse is kept fully insured at the expense of the warehouseman for the benefit of the
owner at the current market value of the grain against loss by fire, lightning, internal explosion,
windstorm, cyclone, tornado, and other risks of direct physical loss as provided by the insurer in
a policy approved by the insurance commissioner. An insurance policy covering grain in a public
warehouse may not be transferred or assigned to any person for any purpose, except for grain
that is not on warehouse receipt or deposit. The insurance policy must be continuous and may
only be canceled in accordance with section 4.1-58-36.

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A public warehouseman license is not effective unless all grain in storage or on deposit in
the warehouse is kept fully insured at the expense of the warehouseman for the benefit of the
owner at the current market value of the grain against loss by fire, lightning, internal explosion,
windstorm, cyclone, tornado, and other risks of direct physical loss as provided by the insurer in
a policy approved by the insurance commissioner. An insurance policy covering grain in a public
warehouse may not be transferred or assigned to any person for any purpose, except for grain
that is not on warehouse receipt or deposit. The insurance policy must be continuous and may
only be canceled in accordance with section 4.1-58-36.