North Dakota Code 4.1-59-10 – Bond discount
Current as of: 2023 | Check for updates
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1. The licensee may request a bond reduction based upon the licensee’s payment policy. a. The required bond is reduced by thirty percent for a licensee that establishes and follows a payment policy approved by the commissioner of ten days or fewer.
Terms Used In North Dakota Code 4.1-59-10
- Commissioner: means the agriculture commissioner or the designee or authorized representative of the commissioner. See North Dakota Code 4.1-01-01
b. The required bond is reduced by fifteen percent for a licensee that establishes and follows a payment policy approved by the commissioner of eleven to twenty-one days.
2. A reduction under this section may not be used to reduce required bond below the minimum bond set by law.