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Current as of January 01, 2024 | Updated by Findlaw Staff
Each surety on the insolvent licensee's bonds must be joined as a party to the insolvency proceeding. If it is in the best interests of the receiptholders, the court may order a surety to deposit some or all of the penal sum of the bond into the trustee's trust account pending determination of the surety's liability under the bond.
Cite this article: FindLaw.com - North Dakota Century Code Title 4.1. Agriculture § 4.1-59-23. Joinder of surety--Deposit of proceeds - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-4-1-agriculture/nd-cent-code-sect-4-1-59-23/
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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