North Dakota § 4.1-61-14 Subrogation

North Dakota Statutes

§ 4.1-61-14 — Subrogation

North Dakota § 4.1-61-14

Title 4.1Agriculture

Ch. 4.1-61Credit-Sale Contract Indemnity

This text of North Dakota § 4.1-61-14 (Subrogation) 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 § 4.1-61-14 (2026).

Text

Money paid from the credit-sale contract indemnity fund in satisfaction of a valid claim
constitutes a debt obligation of the person against which the claim was made. The
commissioner may take action on behalf of the fund against a person to recover the amount of
payment made, plus costs and attorney's fees. Recovery for reimbursement to the fund must
include interest computed at the weight average prime rate charged by the Bank of North
Dakota. Upon payment of a claim from the credit-sale contract indemnity fund, the claimant shall
subrogate the interest of the claimant, if any, to the commissioner in a cause of action against all
parties, to the amount of the loss that the claimant was reimbursed by the fund.

Free access — add to your briefcase to read the full text and ask questions with AI

Money paid from the credit-sale contract indemnity fund in satisfaction of a valid claim
constitutes a debt obligation of the person against which the claim was made. The
commissioner may take action on behalf of the fund against a person to recover the amount of
payment made, plus costs and attorney's fees. Recovery for reimbursement to the fund must
include interest computed at the weight average prime rate charged by the Bank of North
Dakota. Upon payment of a claim from the credit-sale contract indemnity fund, the claimant shall
subrogate the interest of the claimant, if any, to the commissioner in a cause of action against all
parties, to the amount of the loss that the claimant was reimbursed by the fund.