Remedy of receiptholders
N.D. Cent. Code § 4.1-58-49
in effect4.1-58-49. Remedy of receiptholders
A receiptholder does not have a separate claim for relief upon the warehouseman'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. This chapter does not prohibit or
prevent a receiptholder, either individually or with other receiptholders, from pursuing
concurrently other remedies against the person or property of the warehouseman, for the whole,
or any deficiency occurring in the redemption, of the receipts.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t04-1c58.pdf#nameddest=4p1-58-49Fetched: 10/16/2026