North Dakota § 47-30.2-67 Waiver of interest and penalty

North Dakota Statutes

§ 47-30.2-67 — Waiver of interest and penalty

North Dakota § 47-30.2-67

Title 47Property

Ch. 47-30.2Revised Uniform Unclaimed Property Act

This text of North Dakota § 47-30.2-67 (Waiver of interest and penalty) 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 § 47-30.2-67 (2026).

Text

1.A holder shall pay the penalty and interest or request a waiver or reduction within thirty days from the date of the receipt of a notice of a penalty and interest assessment.

2.A request for a waiver or reduction of the penalty or interest must be in writing and provide the grounds for the request.

3.The following factors may be considered if deciding to waive or reduce the penalty or interest:

a.The reason for the holder's noncompliance;

b.The degree of control the holder had over the lack of compliance;

c.Any unusual or mitigating circumstances involved; and

d.Any other relevant factors.

4.The commissioner may waive up to twenty-five thousand dollars of the penalty or reduce interest. A request for a waiver or reduction of penalty in excess of twenty-five thousand dollars must

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1. A holder shall pay the penalty and interest or request a waiver or reduction within thirty
days from the date of the receipt of a notice of a penalty and interest assessment.
2. A request for a waiver or reduction of the penalty or interest must be in writing and
provide the grounds for the request.
3. The following factors may be considered if deciding to waive or reduce the penalty or
interest:
a. The reason for the holder's noncompliance;
b. The degree of control the holder had over the lack of compliance;
c. Any unusual or mitigating circumstances involved; and
d. Any other relevant factors.
4. The commissioner may waive up to twenty-five thousand dollars of the penalty or
reduce interest. A request for a waiver or reduction of penalty in excess of twenty-five
thousand dollars must be presented to the board, with the commissioner's
recommendation, for review and decision.
5. A waiver or reduction of penalty and interest does not constitute a waiver of the right to
seek the full amount of both penalty and interest if the initial holder obligation is not
paid. If a claim for penalties and interest is settled and payment received, the amount
of penalties and interest not collected is waived.