Remedy of receiptholders

N.D. Cent. Code § 4.1-59-26
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
4.1-59-26. Remedy of receiptholders A receiptholder does not have a separate claim for relief upon any insolvent licensee's bond, for insurance, against any person converting grain, nor against any other receiptholder, except through the trustee, unless, upon demand of five or more receiptholders, the commissioner fails or refuses to apply for the commissioner's own appointment or unless the district court denies the application. This chapter does not prohibit a receiptholder, either individually or with other receiptholders, from pursuing concurrently any other remedy against the person or property of the licensee.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t04-1c59.pdf#nameddest=4p1-59-26Fetched: 10/16/2026

Starting a business in North Dakota? North Dakota LLC guide: costs and requirements