N.D. Admin. Code 7-07-01-02
If any licensee defaults in the provisions of any bond, the licensee shall be deemed insolvent. Upon insolvency, the department by publication of a notice published once each week for three successive weeks in the official newspaper of the county in which the licensee operated shall notify all persons having claims against the licensee to file the claims with the department. Any person who shall fail to file the person's claim with the department, in the manner required by the department, and to surrender to it any receipts which have been obtained from such licensee within forty-five days after the last publication of notice shall be barred from participation upon the claim in any fund marshaled by the department as prescribed.
General Authority:NDCC 4-13.2-03, 4-13.2-05, 28-32-02
Law Implemented:NDCC 4-13.2-05
N.D. Admin Code 7-07-01-02