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ND SB2260

Bill

Official Source

Status

Introduced

1/16/2017

Primary Sponsor

Jon Casper

Click for details

Origin

Senate

65th Legislative Assembly

AI Summary

  • Amends section 13-04.1-02.1 of the North Dakota Century Code to add two new exemptions from money broker licensing requirements
  • Exempts persons conducting money brokering limited exclusively to lending to accredited investors from licensing requirements
  • Exempts persons conducting money brokering with total annual lending not exceeding ten million dollars from licensing requirements
  • Commissioner may require proof of past and current lending experience to verify eligibility under the ten million dollar exemption

Legislative Description

Exemptions from money broker regulation.

Last Action

Second reading, failed to pass, yeas 0 nays 46

1/26/2017

Committee Referrals

Industry, Business, and Labor1/16/2017

Full Bill Text

No bill text available