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ND SB2154

Bill

Official Source

Status

Passed

3/30/2021

Primary Sponsor

Shawn Vedaa

Click for details

Origin

Senate

67th Legislative Assembly

AI Summary

  • Amends section 51-05.1-05 of the North Dakota Century Code regarding trust account requirements for auction sale clerks
  • Requires auction sale clerks to maintain separate trust accounts in federally insured banks or depositories designated for client funds
  • Allows clerks licensed outside the state to deposit funds in their home state depository if designated as a separate trust account
  • Permits clerks to deposit up to one thousand dollars of personal funds in the trust account to cover service charges, which must be specifically identified
  • Requires clerks to maintain books and records at their place of business open to inspection by the public service commission during regular business hours

Legislative Description

Handling of funds by a clerk of an auction sale.

Last Action

Signed by Governor 03/29

3/30/2021

Committee Referrals

Industry, Business, and Labor1/8/2021

Full Bill Text

No bill text available