All Roll Calls
Yes: 157 • No: 25
North DakotaSB 22142025 Regular SessionSenateWALLET
AN ACT to amend and reenact subsection 4 of section 6-01-07.1, subsections 4 and 5 of section 10-04-02, sections 10-04-03 and 10-04-16, paragraph 2 of subdivision a of subsection 1 of section 10-04-16.1, section 26.1-06-12, subsection 3 of section 43-10.1-01, subsection 2 of section 43-23.1-05, subsection 4 of section 51-19-02, subsection 3 of section 51-23-02, subsection 1 of section 51-23-15, subsection 1 of section 54-12-08, subsection 1 of section 54-59-22.1, subsection 4 of section 57-38.5-01, and subsection 5 of section 57-38.6-01 of the North Dakota Century Code, relating to the insurance commissioner assuming the duties of the securities commissioner; to provide for a transfer; to provide an effective date; and to declare an emergency.
Sponsored By: Dale Patten (Republican)
Became Law
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Bill Overview
Analyzed Economic Effects
6 provisions identified: 2 benefits, 0 costs, 4 mixed.
Ag processors: new certification path
Agricultural processing businesses can qualify for a state program if the securities and insurance commissioner certifies they comply with securities laws. This change clarifies who can qualify and how. It can help eligible processors access program benefits tied to qualified business status.
Tougher enforcement and data sharing
The commissioner can issue stop and suspension orders that take effect right away. Violations can bring civil fines up to $10,000 per violation, and parties can ask for a hearing. The regulator can share information with other state and multistate financial regulators to improve oversight. People who provide required records are protected from defamation claims unless they knowingly or recklessly make false statements. The law also confirms the commissioner keeps all powers granted elsewhere.
Investor education and restitution funds
The state creates two funds for investors. One fund pays for public investor education and the department’s technology. Another fund holds money to repay people harmed by securities violations. The commissioner can use the restitution fund to distribute money to aggrieved investors. Fees and some penalties flow into these funds as the law allows.
Agencies can hire special attorneys
Listed state agencies, including the insurance and securities offices, can hire attorneys to represent them. The attorney general appoints these lawyers as special assistant attorneys general. Agencies must pay their salaries and expenses within their budgets.
Securities oversight moves to Insurance
State law now names the securities and insurance commissioner as the official in charge of securities laws. Chapters 51-19 and 51-23 use the same title, and chapter 51-23 is run by that office. A security already registered with the state keeps its exemption from extra registration. These are administrative changes and do not change household taxes or benefits.
Securities budget shifts 2025–2027
For July 1, 2025, through June 30, 2027, the state moves the securities department’s appropriation into the insurance department’s budget. This supports the combined regulator. No dollar amounts are stated in the law.
Sponsors & Cosponsors
Sponsor
Dale Patten
Republican • Senate
Cosponsors
Gregory Stemen
Republican • House
Steve Swiontek
Republican • House
Jonathan Warrey
Republican • House
David Hogue
Republican • Senate
Dean Rummel
Republican • Senate
Roll Call Votes
Senate vote • 4/11/2025
Second reading, passed, yeas 40 nays 6, Emergency clause carried
Yes: 40 • No: 6
House vote • 4/1/2025
Second reading, passed as amended, yeas 88 nays 1
Yes: 88 • No: 1
Senate vote • 2/24/2025
Second reading, passed, yeas 29 nays 18
Yes: 29 • No: 18
Actions Timeline
Filed with Secretary Of State 04/17
4/21/2025HouseSigned by Governor 04/17
4/18/2025SenateSent to Governor
4/16/2025SenateSigned by President
4/15/2025SenateSigned by Speaker
4/15/2025HouseSecond reading, passed, yeas 40 nays 6, Emergency clause carried
4/11/2025SenateConcurred
4/11/2025SenateReturned to Senate (12)
4/2/2025SenateEmergency clause carried
4/1/2025HouseSecond reading, passed as amended, yeas 88 nays 1
4/1/2025HouseAmendment adopted, placed on calendar
3/31/2025HouseReported back amended, do pass, amendment placed on calendar 21 0 2
3/28/2025HouseRereferred to Appropriations
3/12/2025HouseReported back, do pass 14 0 0
3/12/2025HouseCommittee Hearing 10:15
3/12/2025HouseIntroduced, first reading, referred Industry, Business and Labor Committee
3/7/2025HouseReceived from Senate
2/25/2025HouseSecond reading, passed, yeas 29 nays 18
2/24/2025SenateReported back, do pass, place on calendar 4 1 0
2/20/2025SenateCommittee Hearing 02:15
1/29/2025SenateIntroduced, first reading, referred Industry and Business Committee
1/16/2025Senate
Bill Text
Enrollment
INTRODUCED
Prepared by the Legislative Council staff for House Appropriations Committee
SENATE BILL NO. 2214 with House Amendments
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