North Dakota § 4.1-58-49 Remedy of receiptholders

North Dakota Statutes

§ 4.1-58-49 — Remedy of receiptholders

North Dakota § 4.1-58-49

Title 4.1Agriculture

Ch. 4.1-58Grain and Seed Warehouses

This text of North Dakota § 4.1-58-49 (Remedy of receiptholders) 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 § 4.1-58-49 (2026).

Text

A receiptholder does not have a separate claim for relief upon the warehouseman's bond,
for insurance, against any person converting grain, nor against any other receiptholder, except
through the trustee, unless, upon demand of five or more receiptholders, the commissioner fails
or refuses to apply for the commissioner's own appointment. This chapter does not prohibit or
prevent a receiptholder, either individually or with other receiptholders, from pursuing
concurrently other remedies against the person or property of the warehouseman, for the whole,
or any deficiency occurring in the redemption, of the receipts.

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A receiptholder does not have a separate claim for relief upon the warehouseman's bond,
for insurance, against any person converting grain, nor against any other receiptholder, except
through the trustee, unless, upon demand of five or more receiptholders, the commissioner fails
or refuses to apply for the commissioner's own appointment. This chapter does not prohibit or
prevent a receiptholder, either individually or with other receiptholders, from pursuing
concurrently other remedies against the person or property of the warehouseman, for the whole,
or any deficiency occurring in the redemption, of the receipts.