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North Dakota · Through 2026-07-31T11:12:02 · Newer source version available

N.D. Cent. Code § 51-23-22: Affirmative defense

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Where this section sits in the code
  1. Title 51 Sales And Exchanges
  2. Chapter 51-23 Commodities Transactions

It is a defense in any complaint, information, indictment, or any writ or proceeding brought under this chapter alleging a violation of section 51-23-03 based solely on the failure in an individual case to make physical delivery within the applicable time period under subsection 5 of section 51-23-02 or subdivision b of subsection 1 of section 51-23-05 if:

1.Failure to make physical delivery was due solely to factors beyond the control of the seller, the seller's officers, directors, partners, agents, servants, or employees, every person occupying a similar status or performing similar functions, every person who directly or indirectly controls or is controlled by the seller, or any of them, the seller's affiliates, subsidiaries, or successors; and

2.Physical delivery was completed within a reasonable time under the applicable circumstances.

Collected 2026-09-02T21:04:14Z. Source file · JSON

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