4-11 Regulation of Wholesale Potato Dealers - North Dakota Statutes

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CHAPTER 4-11REGULATION OF WHOLESALE POTATO DEALERS4-11-01. Definitions. In this chapter, unless the context otherwise requires:1."Commissioner" means the state seed commissioner.2."Insolvency" means an unableness or unwillingness to provide payment for potatoes
purchased by the dealer.3."Potato" means a tuber commonly classed as white or Irish.4."Wholesale potato dealer" means any person who buys potatoes in wholesale lots
directly from a grower or grower cooperative, who sells or handles potatoes in
wholesale lots for the purpose of processing or resale, or who handles potatoes on
account of or as an agent for another.4-11-02. Wholesale potato dealer license required. Before a person may engage inthe business of a wholesale potato dealer, the person must be licensed by the commissioner.4-11-03. Application for license - Contents. To obtain a license as a wholesale potatodealer, a person must complete an application and submit it to the commissioner.Theapplication must be signed by the applicant under oath and must include:1.The location in which the applicant intends to operate as a wholesale potato dealer.2.The estimated amount of business to be done monthly.3.The amount of business done the preceding year, if any.4.The greatest volume of potatoes, by hundredweight, purchased during any one
month in the preceding calendar year.5.The greatest value of potatoes purchased during any one month in the preceding
calendar year.6.The name of each partner if the applicant is a partnership.7.The name of each corporate officer and the state of incorporation if the applicant is a
corporation.8.The name of each manager and the state of organization if the applicant is a limited
liability company.9.The name of every agent employed by the applicant on the date of the application.10.A financial statement prepared in accordance with generally accepted accounting
principles and showing the assets and liabilities of the applicant.11.A list of similar licenses issued to the applicant in other states.12.The name of every state that has:a.Denied the applicant's request for similar licensure;b.Denied a request for similar licensure submitted by an agent employed by the
applicant;Page No. 1c.Issued to the applicant a similar license and thereafter suspended or revoked
the license; ord.Issued to an agent of the applicant a similar license and thereafter suspended
or revoked the agent's license.4-11-04. Form of security to accompany application for license. The commissionermay require the applicant to file a current financial statement prepared in accordance with
generally accepted accounting principles, a cash bond or a surety bond in an amount and form
determined by the commissioner, or an irrevocable letter of credit. The form of security required
by the commissioner must be conditioned for the faithful performance of the applicant's duties as
a wholesale potato dealer, for compliance with all laws and rules relating to the purchase of
potatoes by the dealer, for prompt payment in the case of insolvency, and for the protection and
benefit of any potato producer in this state during the period the license is in effect.4-11-04.1. Termination of bond - Notice to commissioner. The surety may terminateits liability under a bond by giving the commissioner at least ninety days' notice of intent to
terminate. The surety on a bond is released from all future liability accruing on the bond after the
expiration of ninety days from the date the 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 potatodealer files a new bond at least thirty days before the surety's liability ceases, the commissioner,
without hearing, shall suspend the wholesale potato dealer's license. The commissioner may not
remove the suspension until a new bond or other form of surety has been filed and approved by
the commissioner.4-11-05. Issuance of license. Repealed by S.L. 2003, ch. 56,