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Current as of January 01, 2024 | Updated by Findlaw Staff
Grain contained in a warehouse, including grain owned by the warehouseman, is subject to a first priority lien for outstanding receiptholders storing, selling, or depositing grain in the warehouse. The lien created under this section is preferred to any lien or security interest for any creditor of the warehouseman regardless of the time when the creditor's lien or security interest attached to the grain. Notice of the lien created under this section need not be filed to perfect the lien. The lien created by this section is discharged as to grain sold by the warehouseman to a buyer in the ordinary course of business. The sale does not discharge the lien for an individual receiptholder in the remaining grain in the warehouse.
Cite this article: FindLaw.com - North Dakota Century Code Title 4.1. Agriculture § 4.1-58-28. Receiptholder's lien - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-4-1-agriculture/nd-cent-code-sect-4-1-58-28/
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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