ND HB1368

Lenders are prohibited from requiring borrowers to install or maintain global tracking or positioning systems on financed motor vehicles unless three conditions are met: clear disclosure in the financing contract, installation at no cost to the buyer, and removal within 60 days of loan payoff.

Device removal must occur at the lender's expense and at a location mutually agreed upon by both the lender and buyer.

First-time violations subject lenders to a fine of up to $500.

Second and subsequent violations subject lenders to fines of not less than $1,000 and not more than $2,000.

The bill passed the House 94-0 and the Senate 46-0 with one absence.