North Dakota § 51-07-25 Motor vehicle fuel franchise agreements

North Dakota Statutes

§ 51-07-25 — Motor vehicle fuel franchise agreements

North Dakota·Title 51 Sales and Exchanges·Ch. 51-07 Miscellaneous Provisions

A motor vehicle fuel franchise agreement may not require a security deposit except for the
purpose of securing against loss of or damage to property. The dealer may satisfy any security
deposit required by depositing cash or pledging a savings account or its equivalent in a financial
institution in this state. Earnings accruing on a savings account or its equivalent are the property
of the dealer and the dealer may withdraw the earnings annually from the account.

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A motor vehicle fuel franchise agreement may not require a security deposit except for the
purpose of securing against loss of or damage to property. The dealer may satisfy any security
deposit required by depositing cash or pledging a savings account or its equivalent in a financial
institution in this state. Earnings accruing on a savings account or its equivalent are the property
of the dealer and the dealer may withdraw the earnings annually from the account.

North Dakota § 51-07-25 (Motor vehicle fuel franchise agreements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.