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 of any action on the bond, the licensee shall file a new bond.
Surety bond required
N.D.C.C. § 13-12-07 — under Residential Mortgage Lenders.
N.D.C.C. § 13-12-07