Statutes, codes, and regulations
North Dakota Administrative Code
Title 7 - Agriculture CommissionerArticle 7-18 - Grain Warehouse and Grain Buyers
Chapter 7-18-02 - Licensing
Section 7-18-02-05 - Physically disconnected lease space

N.D. Admin. Code 7-18-02-05

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Current through Supplement No. 394, October, 2024
Section 7-18-02-05 - Physically disconnected lease space

Grain warehouses that have facilities that are physically disconnected from licensed facilities may be leased to other entities for nonpublic use. These leased facilities are not part of the license. The lessee is responsible for its own content insurance, if any. The licensee need not bond the space. In the case of licensee insolvency, the contents of the leased facility are not a trust fund asset and the lessee is not entitled to protection for grain held therein. If the leased facility is owned by the licensee, lease agreements must be on file at the warehouse.

N.D. Admin Code 7-18-02-05

Adopted by Administrative Rules Supplement 2021-383, January 2022, effective 1/1/2022.

General Authority: NDCC 60-02-03

Law Implemented: NDCC 60-02-09