The commissioner may install, and if requested by not less than fifteen percent of the partners, stockholders, or members of any association, copartnership, corporation, or limited liability company conducting the public elevator or warehouse, shall install, the uniform system of accounting provided for in section 4.1-60-01. The commissioner on the commissioner’s own motion may, or on request of the required percentage of partners, stockholders, or members, the commissioner shall, send a competent examiner to examine the books and financial accounts of the elevator or warehouse. If a request for the examination of the accounts of any association, copartnership, corporation, or limited liability company has been made to the commissioner, as provided for in this section, subsequent examinations must be made at least once every year until the commissioner is requested to discontinue the examination by resolution adopted by the partners, stockholders, or members at any annual meeting. If the examination has been made, the examiner shall report immediately the results of the examination to the president and the secretary of the association, copartnership, corporation, or limited liability company and to the commissioner.

Terms Used In North Dakota Code 4.1-60-02

  • Commissioner: means the agriculture commissioner or the designee or authorized representative of the commissioner. See North Dakota Code 4.1-01-01
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • year: means twelve consecutive months. See North Dakota Code 1-01-33