60-05 Uniform Accounting for Public Elevators and Warehouses

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CHAPTER 60-05UNIFORM ACCOUNTING FOR PUBLIC ELEVATORS AND WAREHOUSES60-05-01.Public elevators and warehouses - Commission may require uniformaccounting system.The public service commission may require every association,copartnership, corporation, or limited liability company conducting a public elevator or warehouse<br>in this state to adopt a uniform accounting system established by such commission.60-05-02.Examination of financial accounts of elevator or warehouse bycompetent examiner - Request by percentage of stockholders. The commission may install,<br>and whenever requested by not less than fifteen percent of the partners, stockholders, or<br>members of any association, copartnership, corporation, or limited liability company conducting<br>such public elevator or warehouse, shall install, the uniform system of accounting mentioned in<br>section 60-05-01.The commission on its own motion may, or on request of the requiredpercentage of partners, stockholders, or members, the commission shall, send a competent<br>examiner to examine the books and financial accounts of such elevator or warehouse.<br>Whenever a request for the examination of the accounts of any association, copartnership,<br>corporation, or limited liability company has been made to the commission, as provided for in this<br>section, an examination thereafter shall be made at least once every year until the commission<br>shall be requested to discontinue such examination by resolution adopted by the partners,<br>stockholders, or members at any annual meeting. When such examination has been made, the<br>examiner shall report immediately the results thereof to the president and the secretary of such<br>association, copartnership, corporation, or limited liability company and to the commission.60-05-03. Certificate issued by commission after its examination of accounts. Ifthe commission is satisfied from its examination that the person, association, copartnership,<br>corporation, or limited liability company examined is solvent and its method of doing business is<br>such as is likely to be beneficial to all of its members or persons interested therein, the<br>commission shall issue a certificate, countersigned by the examiner, to the agent or manager.<br>Such certificate shall be kept posted conspicuously in the warehouse or elevator of such person,<br>association, copartnership, corporation, or limited liability company and shall state:1.That said methods of doing business are sound.2.That such person, association, copartnership, corporation, or limited liability<br>company is solvent.3.That its books and accounts are kept properly.If the affairs and methods of doing business of such person, association, copartnership,<br>corporation, or limited liability company shall not seem sound or satisfactory to the commission, it<br>shall issue a certificate or statement, countersigned by the person who made the examination,<br>stating in what particular and in what respect the business methods practiced or methods of<br>keeping books and accounts of such person, association, copartnership, corporation, or limited<br>liability company are not deemed safe. The commission shall mail a copy of said statement or<br>certificate to each of such shareholders or stockholders as may have requested the commission<br>to make such examination. The commission also shall send a copy thereof to the president and<br>the secretary of such association, copartnership, corporation, or limited liability company.60-05-04. Fees of examiner for installing and examining accounting system. Formaking installation of a uniform accounting system and examining the financial accounts of an<br>elevator or public warehouse, an association, copartnership, corporation, or limited liability<br>company shall pay the examiner a reasonable fee, as determined by the commission. In case<br>any such association, copartnership, corporation, or limited liability company shall wrongfully<br>refuse or neglect to pay such fees, then the commission may cancel the license to do business.<br>All such fees shall be paid into the state treasury. The expenses incurred by the examiner under<br>the provisions of this chapter shall be paid out of the appropriations made by the legislative<br>assembly for this purpose and such expenses shall be audited and paid in the same manner as<br>other expenses are audited and paid.Page No. 160-05-05.Penalty for interfering with examiner.Repealed by S.L. 1975, ch. 106,</div></article><aside class="right-sidebar"><div class="related-sidebar"><h3><span class="emoji">⚖️</span> State Laws</h3><ul class="state-laws-list"><li><a href="https://state-laws.laws.com/state-of-alabama">The State Laws of Alabama</a></li><li><a href="https://state-laws.laws.com/state-of-alaska">The State Laws of Alaska</a></li><li><a href="https://state-laws.laws.com/state-of-arizona">The State Laws of Arizona</a></li><li><a href="https://state-laws.laws.com/state-of-arkansas">The State Laws of Arkansas</a></li><li><a href="https://state-laws.laws.com/state-of-california">The State Laws of California</a></li><li><a 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height:815px; text-align:center;\"\u003eLoading PDF...\u003c/div\u003e\u003cscript type=\"text/javascript\"\u003e var pdf_url = 'https://law.justia.com/codes/north-dakota/2009/t60/pdf/t60c05.pdf'; $(document).ready(function() { var embedwindow = $(\"#embed_document\"); if ($.browser.msie){ embedwindow.html('\u003cembed src=\"'+pdf_url+'\" width=\"100%\" height=\"100%\"\u003e\u003c/embed\u003e'); } else { embedwindow.html('\u003ciframe style=\"width:100%; height:100%;\" src=\"https://docs.google.com/gview?url='+window.escape(pdf_url)+'\u0026embedded=true\" frameborder=\"0\"\u003e\u003c/iframe\u003e'); } });\u003c/script\u003e\u003cbr\u003e\u003cbr\u003e\u003cnoframes\u003eCHAPTER 60-05UNIFORM ACCOUNTING FOR PUBLIC ELEVATORS AND WAREHOUSES60-05-01.Public elevators and warehouses - Commission may require uniformaccounting system.The public service commission may require every association,copartnership, corporation, or limited liability company conducting a public elevator or warehouse\u003cbr\u003ein this state to adopt a uniform accounting system established by such commission.60-05-02.Examination of financial accounts of elevator or warehouse bycompetent examiner - Request by percentage of stockholders. The commission may install,\u003cbr\u003eand whenever requested by not less than fifteen percent of the partners, stockholders, or\u003cbr\u003emembers of any association, copartnership, corporation, or limited liability company conducting\u003cbr\u003esuch public elevator or warehouse, shall install, the uniform system of accounting mentioned in\u003cbr\u003esection 60-05-01.The commission on its own motion may, or on request of the requiredpercentage of partners, stockholders, or members, the commission shall, send a competent\u003cbr\u003eexaminer to examine the books and financial accounts of such elevator or warehouse.\u003cbr\u003eWhenever a request for the examination of the accounts of any association, copartnership,\u003cbr\u003ecorporation, or limited liability company has been made to the commission, as provided for in this\u003cbr\u003esection, an examination thereafter shall be made at least once every year until the commission\u003cbr\u003eshall be requested to discontinue such examination by resolution adopted by the partners,\u003cbr\u003estockholders, or members at any annual meeting. When such examination has been made, the\u003cbr\u003eexaminer shall report immediately the results thereof to the president and the secretary of such\u003cbr\u003eassociation, copartnership, corporation, or limited liability company and to the commission.60-05-03. Certificate issued by commission after its examination of accounts. Ifthe commission is satisfied from its examination that the person, association, copartnership,\u003cbr\u003ecorporation, or limited liability company examined is solvent and its method of doing business is\u003cbr\u003esuch as is likely to be beneficial to all of its members or persons interested therein, the\u003cbr\u003ecommission shall issue a certificate, countersigned by the examiner, to the agent or manager.\u003cbr\u003eSuch certificate shall be kept posted conspicuously in the warehouse or elevator of such person,\u003cbr\u003eassociation, copartnership, corporation, or limited liability company and shall state:1.That said methods of doing business are sound.2.That such person, association, copartnership, corporation, or limited liability\u003cbr\u003ecompany is solvent.3.That its books and accounts are kept properly.If the affairs and methods of doing business of such person, association, copartnership,\u003cbr\u003ecorporation, or limited liability company shall not seem sound or satisfactory to the commission, it\u003cbr\u003eshall issue a certificate or statement, countersigned by the person who made the examination,\u003cbr\u003estating in what particular and in what respect the business methods practiced or methods of\u003cbr\u003ekeeping books and accounts of such person, association, copartnership, corporation, or limited\u003cbr\u003eliability company are not deemed safe. The commission shall mail a copy of said statement or\u003cbr\u003ecertificate to each of such shareholders or stockholders as may have requested the commission\u003cbr\u003eto make such examination. The commission also shall send a copy thereof to the president and\u003cbr\u003ethe secretary of such association, copartnership, corporation, or limited liability company.60-05-04. Fees of examiner for installing and examining accounting system. Formaking installation of a uniform accounting system and examining the financial accounts of an\u003cbr\u003eelevator or public warehouse, an association, copartnership, corporation, or limited liability\u003cbr\u003ecompany shall pay the examiner a reasonable fee, as determined by the commission. In case\u003cbr\u003eany such association, copartnership, corporation, or limited liability company shall wrongfully\u003cbr\u003erefuse or neglect to pay such fees, then the commission may cancel the license to do business.\u003cbr\u003eAll such fees shall be paid into the state treasury. The expenses incurred by the examiner under\u003cbr\u003ethe provisions of this chapter shall be paid out of the appropriations made by the legislative\u003cbr\u003eassembly for this purpose and such expenses shall be audited and paid in the same manner as\u003cbr\u003eother expenses are audited and paid.Page No. 160-05-05.Penalty for interfering with examiner.Repealed by S.L. 1975, ch. 106,"])</script><script>self.__next_f.push([1,"3c:[\"$\",\"article\",null,{\"className\":\"article-content\",\"children\":[[\"$\",\"header\",null,{\"className\":\"article-header\",\"children\":[[\"$\",\"$Le\",null,{\"href\":\"/north-dakota/\",\"className\":\"article-category\",\"children\":[\"North Dakota\",\" Statutes\"]}],[\"$\",\"h1\",null,{\"className\":\"article-title\",\"children\":\"60-05 Uniform Accounting for Public Elevators and Warehouses\"}]]}],[\"$\",\"div\",null,{\"className\":\"article-body 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