N.D. Cent. Code § 4.1-59-03

Current through 2023 Legislative Sessions
Section 4.1-59-03 - Commissioner's authority - Grain buyer - Trust assets

Upon the commissioner's determination continued operation of a grain buyer is likely to result in probable loss of assets to receiptholders, the commissioner may immediately suspend, close, or take control of the assets held in a trust fund described in section 4.1-59-22, or take any combination of these actions as the commissioner deems necessary to begin an orderly liquidation of those trust fund assets as provided in this chapter.

N.D.C.C. § 4.1-59-03

Added by S.L. 2023 , ch. 89( HB 1393 ), § 2, eff. 7/1/2023.