North Dakota § 51-06-02 - Retention of redemption funds
Full text of North Dakota North Dakota Century Code § 51-06-02 — Retention of redemption funds, with citation guidance and answers to common questions.
§ 51-06-02. Retention of redemption funds
Any person, firm, corporation, limited liability company, or association furnishing trading stamps to retailers and agreeing to redeem trading stamps as provided in this chapter may not discontinue the redemption of trading stamps without first notifying the secretary of state of such intention to discontinue redemption. Upon such notice, the secretary of state shall direct that all funds set aside by the person, firm, corporation, limited liability company, or association for the redemption of trading stamps and such additional funds as in the judgment of the secretary of state may be necessary, be retained by such person, firm, corporation, limited liability company, or association responsible for the redemption of trading stamps for a period of six months for the purpose of redeeming outstanding stamps in merchandise or reimbursing the holders thereof in cash. The secretary of state may require the filing of an acceptable surety bond conditioned upon the redemption of outstanding trading stamps or the reimbursement of the holders thereof.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 51-06-02
What does North Dakota Century Code § 51-06-02 cover?
Section 51-06-02 ("Retention of redemption funds") 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 § 51-06-02?
A common citation format is "North Dakota Century Code § 51-06-02" (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 § 51-06-02 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.