N.D. Cent. Code § 13-04.1-04.1

Current through 2023 Legislative Sessions

Section 13-04.1-04.1 - Surety bond required

1. Each licensee shall maintain a surety bond in an amount not less than fifty thousand dollars. The surety bond must be in a form prescribed by the commissioner.

2. When an action is commenced on a licensee's bond, the commissioner may require the filing of a new bond.

3. Immediately upon recovery upon any action on the bond, the licensee shall file a new bond.

N.D.C.C. § 13-04.1-04.1

Amended by S.L. 2019, ch. 123 (SB 2093),§ 5, eff. 7/1/2019.

Added by S.L. 2011, ch. 105 (SB 2124),§ 4, eff. 8/1/2011.