North Dakota § 13-12-08 Minimum net worth required

North Dakota Statutes

§ 13-12-08 — Minimum net worth required

North Dakota § 13-12-08

Title 13Debtor and Creditor Relationship

Ch. 13-12Residential Mortgage Lenders

This text of North Dakota § 13-12-08 (Minimum net worth required) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 13-12-08 (2026).

Text

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

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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.