80-4-612. Commodity dealer defaults -- remedies. (1) If the department finds that a commodity dealer has failed to comply with the terms of a written contract or has failed to pay for a commodity purchase under an oral agreement in the manner and within the time provided in 80-4-608, the department may petition the district court of the first judicial district, Lewis and Clark County, for an order authorizing the department to seize and take possession of:
(a) any agricultural commodities in the facilities owned, operated, or controlled by the commodity dealer;
(b) all books, papers, and property used in connection with the operation of the commodity dealer business; and
(c) any material that pertains in any way to that business.
(2) If during or after an audit or at any other time the department has evidence that the commodity dealer is insolvent or is unable to satisfy the claims of all commodity dealer creditors covered by the bond, the department may petition the district court of the first judicial district, Lewis and Clark County, for the appointment of the department to operate or liquidate the business of the commodity dealer.
(3) All necessary expenses incurred by the department in carrying out the provisions of this part may be recovered at the discretion of the department from:
(a) the bond;
(b) the assets of the licensee;
(c) the agricultural commodities delivered for purchase but not yet paid for; or
(d) in a separate civil action brought by the department in the first judicial district court.
(4) The department is authorized to include as part of the recoverable expenses the cost of adequate liability insurance necessary to protect the department, its officers, and others engaged in carrying out the provisions of this part.
History: En. Sec. 7, Ch. 299, L. 1991; amd. Sec. 14, Ch. 452, L. 1993.
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