North Dakota § 4.1-61-04 Credit-sale contract indemnity fund - Eligibility for reimbursement

North Dakota Statutes

§ 4.1-61-04 — Credit-sale contract indemnity fund - Eligibility for reimbursement

North Dakota·Title 4.1 Agriculture·Ch. 4.1-61 Credit-Sale Contract Indemnity

A person is eligible to receive indemnity payments from the credit-sale contract indemnity fund if:

1.After August 1, 2003, the person sold grain to a licensed warehouse or a grain buyer in this state under a credit-sale contract;

2.The licensed warehouse to which the person sold grain or the grain buyer to which the person sold grain becomes insolvent; and

3.The licensed warehouse or the grain buyer, as a result of the insolvency, does not fully compensate the person in accordance with the credit-sale contract.

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A person is eligible to receive indemnity payments from the credit-sale contract indemnity
fund if:
1. After August 1, 2003, the person sold grain to a licensed warehouse or a grain buyer in
this state under a credit-sale contract;
2. The licensed warehouse to which the person sold grain or the grain buyer to which the
person sold grain becomes insolvent; and
3. The licensed warehouse or the grain buyer, as a result of the insolvency, does not fully
compensate the person in accordance with the credit-sale contract.

North Dakota § 4.1-61-04 (Credit-sale contract indemnity fund - Eligibility for reimbursement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.