North Dakota § 4.1-58-52 Commissioner's authority - Warehouseman - Trust assets

North Dakota Statutes

§ 4.1-58-52 — Commissioner's authority - Warehouseman - Trust assets

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

Upon the commissioner's determination continued operation of a warehouseman is likely to
result in probable loss of assets to receiptholders, the commissioner may immediately suspend,
close, or take control of the assets held in a trust fund described in section 4.1-58-45, or take
any combination of these actions as the commissioner deems necessary to begin an orderly
liquidation of those trust fund assets as provided in this chapter.

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Upon the commissioner's determination continued operation of a warehouseman is likely to
result in probable loss of assets to receiptholders, the commissioner may immediately suspend,
close, or take control of the assets held in a trust fund described in section 4.1-58-45, or take
any combination of these actions as the commissioner deems necessary to begin an orderly
liquidation of those trust fund assets as provided in this chapter.

North Dakota § 4.1-58-52 (Commissioner's authority - Warehouseman - Trust assets) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.