N.D. Cent. Code § 51-07-25: Motor vehicle fuel franchise agreements
Where this section sits in the code
- Title 51 Sales And Exchanges
- Chapter 51-07 Miscellaneous Provisions
A motor vehicle fuel franchise agreement may not require a security deposit except for the purpose of securing against loss of or damage to property. The dealer may satisfy any security deposit required by depositing cash or pledging a savings account or its equivalent in a financial institution in this state. Earnings accruing on a savings account or its equivalent are the property of the dealer and the dealer may withdraw the earnings annually from the account.
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