North Dakota § 4.1-58-43 Licensed warehouse capacity and condominium storage

North Dakota Statutes

§ 4.1-58-43 — Licensed warehouse capacity and condominium storage

North Dakota § 4.1-58-43

Title 4.1Agriculture

Ch. 4.1-58Grain and Seed Warehouses

This text of North Dakota § 4.1-58-43 (Licensed warehouse capacity and condominium storage) 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 § 4.1-58-43 (2026).

Text

1.Unless an entire warehouse facility is used for nonpublic purposes, all physically connected portions of the facility must be licensed in accordance with this chapter.

2.The warehouseman shall issue receipt memoranda for all grain received.

3.Facilities that are physically connected to the licensed warehouse may be sold under a condominium arrangement or leased to other entities for nonpublic use and sales and lease agreements must be based on the capacity of the bins involved and not on the number of bushels held in the space.

4.The licensee shall provide contents insurance and bond coverage for the space.

5.If a licensee becomes insolvent, the contents of the space must be considered an asset to the trust fund established under this chapter and owners and lessees are entitled to t

Free access — add to your briefcase to read the full text and ask questions with AI

1. Unless an entire warehouse facility is used for nonpublic purposes, all physically
connected portions of the facility must be licensed in accordance with this chapter.
2. The warehouseman shall issue receipt memoranda for all grain received.
3. Facilities that are physically connected to the licensed warehouse may be sold under a
condominium arrangement or leased to other entities for nonpublic use and sales and
lease agreements must be based on the capacity of the bins involved and not on the
number of bushels held in the space.
4. The licensee shall provide contents insurance and bond coverage for the space.
5. If a licensee becomes insolvent, the contents of the space must be considered an
asset to the trust fund established under this chapter and owners and lessees are
entitled to trust fund protection in a manner equal to all other valid grain receiptholders.