North Dakota § 4.1-59-10 Bond discount

North Dakota Statutes

§ 4.1-59-10 — Bond discount

North Dakota § 4.1-59-10

Title 4.1Agriculture

Ch. 4.1-59Grain Buyers

This text of North Dakota § 4.1-59-10 (Bond discount) 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 § 4.1-59-10 (2026).

Text

1.The licensee may request a bond reduction based upon the licensee's payment policy.

a.The required bond is reduced by thirty percent for a licensee that establishes and follows a payment policy approved by the commissioner of ten days or fewer.

b.The required bond is reduced by fifteen percent for a licensee that establishes and follows a payment policy approved by the commissioner of eleven to twenty-one days.

2.A reduction under this section may not be used to reduce required bond below the minimum bond set by law.

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1. The licensee may request a bond reduction based upon the licensee's payment policy.
a. The required bond is reduced by thirty percent for a licensee that establishes and
follows a payment policy approved by the commissioner of ten days or fewer.
b. The required bond is reduced by fifteen percent for a licensee that establishes
and follows a payment policy approved by the commissioner of eleven to
twenty-one days.
2. A reduction under this section may not be used to reduce required bond below the
minimum bond set by law.