The surety may terminate its liability under a bond by giving the seed commissioner at least ninety days’ written notice of intent to terminate. The surety is released from all future liability accruing on the bond after the expiration of ninety days from the date the seed commissioner received the notice or on a later date specified by the surety. This section does not relieve, release, or discharge the surety from any liability incurred before the expiration of the ninety-day period. Unless the wholesale potato dealer files a new bond or an irrevocable letter of credit at least thirty days before the surety’s liability ceases, the seed commissioner, without hearing, shall suspend the wholesale potato dealer’s license. The seed commissioner may not remove the suspension until a new bond or an irrevocable letter of credit has been filed with and approved by the seed commissioner.

Terms Used In North Dakota Code 4.1-57-05

  • Commissioner: means the agriculture commissioner or the designee or authorized representative of the commissioner. See North Dakota Code 4.1-01-01
  • written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
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