North Dakota § 4.1-59-26 Remedy of receiptholders

North Dakota Statutes

§ 4.1-59-26 — Remedy of receiptholders

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

A receiptholder does not have a separate claim for relief upon any insolvent licensee'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 or unless the
district court denies the application. This chapter does not prohibit a receiptholder, either

individually or with other receiptholders, from pursuing concurrently any other remedy against
the person or property of the licensee.

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A receiptholder does not have a separate claim for relief upon any insolvent licensee'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 or unless the
district court denies the application. This chapter does not prohibit a receiptholder, either

individually or with other receiptholders, from pursuing concurrently any other remedy against
the person or property of the licensee.

North Dakota § 4.1-59-26 (Remedy of receiptholders) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.