North Dakota § 43-55-05 - Bond
Full text of North Dakota North Dakota Century Code § 43-55-05 — Bond, with citation guidance and answers to common questions.
§ 43-55-05. Bond
1. A professional employer organization shall maintain a bond with a minimum value of the lesser amount of one hundred thousand dollars or five percent of the total wages reported on the employer's quarterly contribution and wage report to job service North Dakota for the quarter ending immediately before the date submitted to the secretary of state. 2. A professional employer organization that has not filed an employer's quarterly contribution and wage report with job service North Dakota shall submit a bond in the amount of one hundred thousand dollars. 3. The bond must be held by the secretary of state and secure payment by the professional employer organization of any tax, wage, benefit, or other entitlement due to or with respect to a covered employee if the professional employer organization does not make the payment when due. 4. 5. A professional employer organization shall provide the secretary of state notice of cancellation or nonrenewal of the bond required by this section at least forty-five days before cancellation or nonrenewal of the bond. As used in this section, "bond" means a surety bond or an irrevocable letter of credit.
Frequently Asked Questions About North Dakota § 43-55-05
What does North Dakota Century Code § 43-55-05 cover?
Section 43-55-05 ("Bond") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 43-55-05?
A common citation format is "North Dakota Century Code § 43-55-05" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 43-55-05 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.