North Dakota § 4.1-59-03 Commissioner's authority - Grain buyer - Trust assets

North Dakota Statutes

§ 4.1-59-03 — Commissioner's authority - Grain buyer - Trust assets

North Dakota·Title 4.1 Agriculture·Ch. 4.1-59 Grain Buyers

Upon the commissioner's determination continued operation of a grain buyer 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 4.1-59-22, 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 grain buyer 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 4.1-59-22, 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 § 4.1-59-03 (Commissioner's authority - Grain buyer - Trust assets) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.