ND SB2160

Legislative Description

A BILL for an Act to create and enact two new sections to chapter 13-04.1 and chapter 13-10 of the North Dakota Century Code, relating to licensing of residential mortgage brokers and regulation of loans not in excess of one thousand dollars and automatic extension of money broker license; to amend and reenact subsection 1 of section 6-01-01.1, sections 13-04.1-02.1, 13-04.1-04, and 13-04.1-05, subsection 2 of section 41-09-11, and section 51-14-03.2 of the North Dakota Century Code, relating to changes necessitated by the repeal of chapter 13-03.1, exemptions from licensing requirements under the North Dakota money broker statute, annual license fees, and licensure renewal dates; to repeal chapter 13-03.1 of the North Dakota Century Code, relating to regulation of lending activities; to provide a penalty; to provide an effective date; and to declare an emergency.

Last Action

Committee Referrals