A licensee's minimum bond is two and one-half percent of the licensee's total grain purchases in the state, based on a three-year rolling average during which the license has been active. A licensee shall report the value of purchases at renewal. A licensee's required minimum bond may not be less than one hundred thousand dollars.
N.D. Admin Code 7-18-03-01
General Authority: NDCC 60-02-03
Law Implemented: NDCC 60-02-02, 60-02-07, 60-02-09