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North Dakota Century Code Title 4.1. Agriculture § 4.1-83-05. Application for license--Posting of bond

Current as of January 01, 2024 | Updated by Findlaw Staff

1. As a condition of licensure, the applicant shall post a bond with the agriculture commissioner. The bond must be:

a. A surety bond;

b. A cash bond; or

c. An irrevocable letter of credit.

2. The agriculture commissioner must be named as the obligee.

3. The bond required by this section must be:

a. In an amount and form required by this chapter;

b. Applicable to the period during which the livestock dealer's license is in effect;

c. For the benefit of any person selling livestock to the livestock dealer or the dealer's agent; and

d. Conditioned for the payment of any financial obligation owed by a livestock dealer to another person in conjunction with the sale of livestock.

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Cite this article: FindLaw.com - North Dakota Century Code Title 4.1. Agriculture § 4.1-83-05. Application for license--Posting of bond - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-4-1-agriculture/nd-cent-code-sect-4-1-83-05/

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