§ 51-23-22 — Affirmative defense

North Dakota § 51-23-22

• Jurisdiction: North Dakota
• Title 51: Sales and Exchanges
• Ch. 51-23: Commodities Transactions

Text

It is a defense in any complaint, information, indictment, or any writ or proceeding brought
under this chapter alleging a violation of section 51-23-03 based solely on the failure in an
individual case to make physical delivery within the applicable time period under subsection 5 of
section 51-23-02 or subdivision b of subsection 1 of section 51-23-05 if:
1. Failure to make physical delivery was due solely to factors beyond the control of the
seller, the seller's officers, directors, partners, agents, servants, or employees, every
person occupying a similar status or performing similar functions, every person who
directly or indirectly controls or is controlled by the seller, or any of them, the seller's
affiliates, subsidiaries, or successors; and
2. Physical delivery was completed within a reasonable time under the applicable
circumstances.