{"data":{"id":"us-nd/n.d.-cent.-code-13-05-04.2","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 13-05-04.2","heading":"Minimum net worth required","body":"A minimum net worth must be continuously maintained by every licensee in accordance with this section.\n1.Minimum net worth must be maintained in the amount of twenty-five thousand dollars.\n2.If the net worth of a licensee falls below the minimum net worth as set forth in subsection 1, the licensee shall provide a plan, subject to the approval of the commissioner, to increase the licensee's net worth to an amount in conformance with this section. Submission of a plan under this section must be made within twenty business days of a notice from the commissioner that the licensee is not in compliance with subsection 1. If the licensee does not submit a plan under this section, fails to comply with an approved plan, or has repeated violations of subsection 1, the commissioner may revoke the license.","path":["Title 13 Debtor And Creditor Relationship","Chapter 13-05 Collection Agencies"],"source_url":"https://ndlegis.gov/cencode/t13c05.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"792e38ddcebc68252c1f6991c7f7524ec8b0c7cb462bf84c15771684ee98807c","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-13-05-04.1","next":"us-nd/n.d.-cent.-code-13-05-05"},"notice":"GroundRules: Original legal text. Not legal advice."}