N.D. Cent. Code § 4.1-83-05: Application for license - Posting of bond

1.As a condition of licensure, the applicant shall post a bond with the agriculture commissioner. The bond must be:

a.A surety bond;

b.A cash bond; or

c.An irrevocable letter of credit.

2.The agriculture commissioner must be named as the obligee.

3.The bond required by this section must be:

a.In an amount and form required by this chapter;

b.Applicable to the period during which the livestock dealer's license is in effect;

c.For the benefit of any person selling livestock to the livestock dealer or the dealer's agent; and

d.Conditioned for the payment of any financial obligation owed by a livestock dealer to another person in conjunction with the sale of livestock.