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Current as of January 01, 2024 | Updated by Findlaw Staff
1. The first purchaser shall collect the assessment from the seller by deducting the assessment from the total price of the wheat being purchased. If the wheat is subject to a lien, pledge, or mortgage, the assessment must:
a. Be deducted from the proceeds of the loan; or
b. The claim must be secured and must be subject to adjustment at the time of settlement if the number of bushels [liters] is not accurately determined at the time of the lien, pledge, or mortgage.
2. At the time of the sale, the first purchaser shall provide a record of the transaction to the seller in the manner prescribed by the commission.
Cite this article: FindLaw.com - North Dakota Century Code Title 4.1. Agriculture § 4.1-13-16. Collection of assessment--Records - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-4-1-agriculture/nd-cent-code-sect-4-1-13-16/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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