N.D. Cent. Code § 4.1-83-21
Current through the 2023 Legislative Sessions
If a livestock dealer defaults in the provisions of any bond required by this chapter, the livestock dealer is deemed to be insolvent within the meaning of this chapter. The claim for relief for damages upon the bond, and the amount recovered in any claim for relief for the conversion of livestock purchased by the livestock dealer while the license is in force and effect, constitutes a trust fund in the hands of the agriculture commissioner for all persons having a claim for relief against the livestock dealer on the bond.
N.D.C.C. § 4.1-83-21