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A motor vehicle fuel franchise agreement may not require a security deposit except for the purpose of securing against loss of or damage to property. The dealer may satisfy any security deposit required by depositing cash or pledging a savings account or its equivalent in a financial institution in this state. Earnings accruing on a savings account or its equivalent are the property of the dealer and the dealer may withdraw the earnings annually from the account.
Cite this article: FindLaw.com - North Dakota Century Code Title 51. Sales and Exchanges § 51-07-25. Motor vehicle fuel franchise agreements - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-51-sales-and-exchanges/nd-cent-code-sect-51-07-25/
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