N.D. Admin. Code 7-07-01-01

Current through Supplement No. 394, October, 2024

Section 7-07-01-01 - Bond required

Each applicant for a license under the provisions of North Dakota Century Code section 4-13.2-05 shall file with the application a bond, in the amount of ten thousand dollars, issued by an approved surety company. The department shall be named as the obligee in each bond but the bond shall be held for the purpose of protecting and for the benefit of any person buying or selling live poultry, as the case may be, to the licensee. Such bond shall be conditioned for all of the following:

1. The faithful performance by the licensee of the licensee's duties as such.

2. The compliance by the licensee with all of the provisions relating to the purchase or sale of poultry, as the case may be.

3. The full and complete payment to the seller for all poultry purchased by the licensee.

4. The full protection of any person who deals with the licensee.

Each bond shall cover the license period of the licensee.

Security may not be required for that portion of a licensee's business which is comprised of processing poultry raised and owned by the licensee or custom processing of poultry.

The department may waive the security requirements if it determines the volume of business is such that security would be impractical.

N.D. Admin Code 7-07-01-01

Amended effective January 1, 1993.

General Authority: NDCC 4-13.2-03, 4-13.2-05, 28-32-02

Law Implemented: NDCC 4-13.2-05