If claims for indemnity payments from the credit-sale contract indemnity fund exceed the amount in the fund, the commissioner shall prorate the claims and pay the prorated amounts. As future assessments are collected, the commissioner shall continue to forward indemnity payments to each eligible person until the person receives the maximum amount payable in accordance with this chapter.

Terms Used In North Dakota Code 4.1-61-07

  • Commissioner: means the agriculture commissioner or the designee or authorized representative of the commissioner. See North Dakota Code 4.1-01-01
  • Contract: A legal written agreement that becomes binding when signed.
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
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