N.D. Cent. Code § 13-12-08

Current through 2023 Legislative Sessions

Section 13-12-08 - Minimum net worth required

A minimum net worth must be continuously maintained by every licensee in accordance with this section.

1. Minimum net worth must be maintained in the amount of twenty-five thousand dollars.

2. If the net worth of a licensee falls below the minimum net worth set forth in this section, the licensee shall provide a plan, subject to the approval of the commissioner, to increase the licensee's net worth to an amount in conformance with this section. Submission of a plan under this section must be made within twenty business days of a notice from the commissioner which states the licensee is not in compliance with subsection 1. If the licensee does not submit a plan under this section, fails to comply with an approved plan, or has repeated violations of subsection 1, the commissioner may revoke the license.

N.D.C.C. § 13-12-08

Added by S.L. 2023 , ch. 138( SB 2090 ), § 12, eff. 7/1/2023.

See S.L. 2023 , ch. 138( SB 2090 ), § 14.