Title 13 — Debtor and Creditor Relationship
19 chapters · 259 sections in this title.
N.D.C.C. § 13-11-22 Voluntary contributions
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A provider may not solicit a voluntary contribution from an individual or an affiliate of the individual for any service provided to the individual.
N.D.C.C. § 13-11-23 Prohibited acts and practices
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1. A provider directly or indirectly may not: a. Misappropriate or misapply money held in trust; b. Settle a debt on behalf of an individual for more than fifty percent of the principal amount of the debt owed a creditor, unless the individual assents to the settlement after the …
N.D.C.C. § 13-11-24 Notice of litigation
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Within thirty days after a provider has been served with notice of a civil action for violation of this chapter by or on behalf of an individual who resides in this state at either the time of a contract or the time the notice is served, the provider shall notify the commissioner…
N.D.C.C. § 13-11-25 Liability for the conduct of other persons
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If a provider delegates any of its duties or obligations under a contract or this chapter to another person, including an independent contractor, the provider is liable for conduct of the person which, if done by the provider, would violate the contract or this chapter.
N.D.C.C. § 13-11-26 Powers of the commissioner
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Insofar as consistent with other provisions of law, the commissioner may: 1. Determine the qualifications of all applicants based on financial responsibility, financial condition, business experience, character, and general fitness which must reasonably warrant the belief that th…
N.D.C.C. § 13-11-27 Enforcement authorities, violations, and penalties
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1. Any person that violates this chapter is guilty of a class C felony. 2. The commissioner may impose a civil money penalty not to exceed five thousand dollars per violation upon a person or agency that willfully violates a law, rule, written agreement, or order under this chapt…
N.D.C.C. § 13-11-28 Void contracts
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1. If a provider imposes a fee or other charge or receives money or other payments not authorized by sections 13-11-21 and 13-11-22, the contract is void and the individual may recover as provided in section 13-11-20. 2. If a provider is not licensed as required by this chapter w…
N.D.C.C. § 13-11-29 Private enforcement
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Any person that is aggrieved by a violation of this chapter may bring an action to enjoin the violation, or for restitution, or both. The court may award the plaintiff the plaintiff's actual restitution or a sum up to two thousand dollars, whichever is greater. The court may awar…
N.D.C.C. § 13-11-30 Confidentiality
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To promote more effective regulation and reduce regulatory burden through supervisory information sharing, the commissioner or commissioner's designee may furnish information to or receive information from a nationwide multistate licensing system for the purpose of regulation of …
N.D.C.C. § 13-11-31 Disclosure of customer information
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Except for provisions of chapter 6-08.1 which are inconsistent with this chapter, chapter 6-08.1 applies to all debt-settlement providers licensed under this chapter.
N.D.C.C. § 13-12-01 Definitions
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As used in this chapter, unless the context or subject matter otherwise requires: 1. "Borrower" means an individual who seeks out, or is solicited by a residential mortgage lender for the purpose of residential mortgage lending. 2. "Commissioner" means the commissioner of the dep…
N.D.C.C. § 13-12-02 Administration
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The department of financial institutions shall administer and enforce this chapter. The department may promulgate rules and regulations having the force and effect of law, reasonably necessary to carry out the provisions of this chapter, in accordance with chapter 28-32. Any hear…
N.D.C.C. § 13-12-03 Residential mortgage lender license required
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Except as otherwise provided, a person other than a residential mortgage lender licensed and authorized under this chapter may not engage in residential mortgage lending in the state without a residential mortgage lender license issued by the commissioner. A person engages in res…
N.D.C.C. § 13-12-04 Entities exempted from licensing requirements
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This chapter does not apply to: 1. Banks; 2. Credit unions; 3. Savings and loan associations; 4. Insurance companies; 5. Individuals licensed under chapter 13-10 solely pursuant to the individual's official duties as a mortgage loan originator; 6. State or federal agencies and em…
N.D.C.C. § 13-12-05 Application for residential mortgage lender license
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Every application or renewal for a residential mortgage lender license or branch registration must be made upon forms designed and furnished by the department of financial institutions and must contain any information which the department deems necessary and proper. A branch regi…
N.D.C.C. § 13-12-06 Fee to accompany application for residential mortgage lender license
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The application for license must be in writing, under oath, and in the form prescribed by the commissioner. The application must give the location where the business is to be conducted and must contain any further information the commissioner requires, including the names and add…
N.D.C.C. § 13-12-07 Surety bond required
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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. Immedi…
N.D.C.C. § 13-12-08 Minimum net worth required
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A minimum net worth must be continuously maintained by every licensee in accordance with this section. 1. Minimum net worth must be maintained in the amount of twenty-five thousand dollars. 2. If the net worth of a licensee falls below the minimum net worth set forth in this sect…
N.D.C.C. § 13-12-09 Expiration and renewal of license
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All licenses expire on December thirty-first of each year and may be renewed. Renewals are effective the succeeding January first. Applications for renewal must be submitted thirty days before the expiration of the license and must be accompanied by the required annual fees, whic…
N.D.C.C. § 13-12-10 Powers of the department of financial institutions
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The department of financial institutions may: 1. Determine the qualifications of all applicants based on financial responsibility, financial condition, business experience, character, and general fitness which must reasonably warrant the belief that the applicant's business will …
N.D.C.C. § 13-12-11 Manner in which records to be kept
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Every residential mortgage lender licensed under this chapter shall keep a record of all sums collected by the residential mortgage lender and of all loans completed as a result of the lender's efforts for a period of six years from the date of last entry. The records of a licens…
N.D.C.C. § 13-12-12 Revocation of license - Suspension of license - Surrender of license
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1. The commissioner may issue upon any licensee an order suspending or revoking a licensee's license if the commissioner finds: a. The licensee has failed to pay the annual license fee under this chapter or any examination fee imposed by the commissioner under the authority of th…
N.D.C.C. § 13-12-14 Prohibited acts and practices
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It is a violation of this chapter for a person subject to this chapter to: 1. Make or cause to be made any material false statement or representation in any application or other document or statement required to be filed under any provision of this chapter, or to omit to state an…
N.D.C.C. § 13-12-15 Advance fees prohibited - Exception
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A residential mortgage lender may not take any type of fee in advance before the funding of the loan, unless the residential mortgage lender is licensed under this chapter. A residential mortgage lender licensed under this chapter may accept an advance expense deposit which may n…
N.D.C.C. § 13-12-17 Orders and injunctions
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Whenever it appears to the department of financial institutions either upon complaint or otherwise, that any person has engaged in, is engaging in, or is about to engage in any act or practice or transaction which is prohibited by this chapter, or by any order of the department i…
N.D.C.C. § 13-12-18 Investigations, subpoenas, and examination authority
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In addition to any authority allowed under this chapter, the commissioner may conduct investigations and examinations as follows: 1. The department of financial institutions in its discretion: a. May make a public or private investigation or examination within or outside this sta…
N.D.C.C. § 13-12-19 Response to department requests
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An applicant, licensee, or other person subject to the provisions of this chapter shall comply with requests for information, documents, or other requests from the department of financial institutions within the time specified in the request, which must be a minimum of ten days, …
N.D.C.C. § 13-12-20 Remedies not exclusive
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The remedies provided for in this chapter are in addition to and not exclusive of any other remedies provided by law.
N.D.C.C. § 13-12-21 Penalty
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A person or company violating any of the provisions of this chapter or any rule or order of the department of financial institutions made pursuant to the provisions of this chapter or who engages in any act, practice, or transaction declared by any provision of this chapter to be…
N.D.C.C. § 13-12-22 Confidentiality
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To promote more effective regulation and reduce regulatory burden through supervisory information sharing: 1. Except as otherwise provided in the Secure and Fair Enforcement for Mortgage Licensing Act [Public Law 110-289, section 1512, 12 U.S.C. 5111, et seq.], the requirements u…
N.D.C.C. § 13-12-23 Change of name or address
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A licensee is required to submit within twenty business days of the date of change notification of a change of name or change of address. The notification must be in the form prescribed by the commissioner.
N.D.C.C. § 13-12-24 Call reports
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Each licensee shall submit to the nationwide multistate licensing system and registry reports of condition which must be in the form and must contain the information as the nationwide multistate licensing system and registry may require.
N.D.C.C. § 13-12-25 Report to nationwide multistate licensing system and registry
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Notwithstanding state privacy law, the commissioner regularly shall report violations of this chapter, as well as enforcement actions and other relevant information, to the nationwide multistate licensing system and registry subject to the provisions contained in section 13-12-22…
N.D.C.C. § 13-12-26 Disclosure of customer information
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Except for provisions of chapter 6-08.1 which are inconsistent with this chapter, chapter 6-08.1 applies to all residential mortgage lenders licensed under this chapter. 13-12-27. Notice to borrower regarding regulation by the department of financial institutions. The written con…
N.D.C.C. § 13-13-01 Definitions
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As used in this chapter, unless the context or subject matter otherwise requires: 1. "Allowable assets for liquidity" means those assets that may be used to satisfy the liquidity requirements in this chapter, including unrestricted cash and cash equivalents and unencumbered inves…
N.D.C.C. § 13-13-02 Administration
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The department of financial institutions shall administer and enforce this chapter. The department has the power to promulgate rules and regulations having the force and effect of law, reasonably necessary to carry out the provisions of this chapter, in accordance with chapter 28…
N.D.C.C. § 13-13-03 Residential mortgage loan servicing license required
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Except as otherwise provided, a person other than a residential mortgage loan servicer licensed and authorized under this chapter may not engage in residential mortgage loan servicing, either as a servicer, subservicer, or mortgage servicing rights investor, in the state without …
N.D.C.C. § 13-13-04 Entities exempted from licensing requirements
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This chapter does not apply to: 1. Banks; 2. Credit unions; 3. Savings and loan associations; 4. State or federal housing finance agencies; 5. Institutions chartered by the farm credit administration; 6. Not-for-profit mortgage servicers; or 7. Entities solely performing interim …
N.D.C.C. § 13-13-05 Application for residential mortgage loan servicer license
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Every application for a residential mortgage loan servicer license, branch registration, or a renewal, must be made upon forms designed and furnished by the department of financial institutions and must contain any information which the department deems necessary and proper. The …
N.D.C.C. § 13-13-07 Financial condition
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This section applies to large servicers as defined in subsection 9 of section 13-13-01. 1. A large servicer must maintain capital and liquidity in compliance with this section. 2. For the purposes of complying with the capital and liquidity requirements of this section, all finan…
N.D.C.C. § 13-13-08 Financial condition for applicant or licensee not subject to section 13-13-07
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1. An applicant or licensee not subject to section 13-13-07 which is operating as an approved servicer by one or more government-sponsored enterprises must maintain liquidity to include operating reserves, and tangible net worth that meet the standards set by the entity. If appro…
N.D.C.C. § 13-13-09 Corporate governance
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This section applies to large servicers as defined in section 13-13-01. 1. Large servicers shall establish and maintain a board of directors responsible for its oversight. For large servicers that are not approved to service loans by a government- sponsored enterprise, or where t…
N.D.C.C. § 13-13-10 Expiration and renewal of license
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All licenses required under this chapter expire on December thirty-first of each year and may be renewed. Renewals are effective the succeeding January first. Applications for renewal must be submitted no later than thirty days before the expiration of the license and must be acc…
N.D.C.C. § 13-13-11 Powers of the department of financial institutions
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The department of financial institutions has the power to: 1. Determine the qualifications of all applicants based on financial responsibility, financial condition, business experience, character, and general fitness which must reasonably warrant the belief that the applicant's b…
N.D.C.C. § 13-13-12 Manner in which records to be kept
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Every residential mortgage loan servicer licensed under this chapter shall keep a record of all sums collected and all loans serviced by the residential mortgage loan servicer for a period of six years from the date of last entry. If the records can be reproduced upon request by …
N.D.C.C. § 13-13-13 Revocation of license - Suspension of license - Surrender of license
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1. The commissioner may issue upon any licensee an order suspending or revoking a licensee's license if the commissioner finds that: a. The licensee has failed to pay the annual license fee under this chapter or any examination fee imposed by the commissioner under the authority …
N.D.C.C. § 13-13-15 Prohibited acts and practices
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It is a violation of this chapter for a person subject to this chapter to: 1. Make or cause to be made any materially false statement or representation in any document or statement required to be filed under any provision of this chapter, or to omit any material statement or fact…
N.D.C.C. § 13-13-16 Orders and injunctions
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Whenever it appears to the department of financial institutions either upon complaint or otherwise, that any person has engaged in, is engaging in, or is about to engage in any act or practice or transaction which is prohibited by this chapter, or by any order of the department i…
N.D.C.C. § 13-13-17 Investigations, subpoenas, and examination authority
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In addition to any authority allowed under this chapter, the commissioner may conduct investigations and examinations as follows: 1. The department of financial institutions may: a. Make a public or private investigation or examination within or outside this state as it deems nec…
N.D.C.C. § 13-13-18 Response to department requests
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An applicant, licensee, or other person subject to the provisions of this chapter shall comply with requests for information, documents, or other requests from the department of financial institutions within the time specified in the request, which must be a minimum of ten days, …