North Dakota amends financial guarantee requirement for livestock/wool dealers

Signed into law by Governor Jack Dalrymple of North Dakota on April 17, 2013, HB 1026 reduces the need for a livestock or wool dealer to purchase a surety bond.
The legislation allows for a letter of credit or cash to serve as a financial guarantee in lieu of a surety bond. The new law makes it easier for salesmen and saleswomen with lower credit scores to register as livestock or wool dealers.
Section 4.1-88-05 of the legislation details the change. Click here for a full text on ND HB 1026.
If you need a surety bond in North Dakota or any other state, contact online 24/7 or by phone at 1 (800) 308-4358 Monday through Friday, 8 a.m. to 7 p.m. CST. You’ll be connected with an expert surety specialist who will walk you through each step of the bonding process.

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