{"data":{"id":"us-nd/n.d.-cent.-code-13-08-07","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 13-08-07","heading":"Nontransferability - Change in control of license","body":"A license issued under this chapter is not transferable or assignable. The prior written approval of the commissioner is required for the continued operation of a deferred presentment service business if a change in control of a licensee occurs. Control in the case of a corporation means direct or indirect ownership; the right to control twenty-five percent or more of the voting shares of the corporation; or the ability of any person to elect a majority of the directors or otherwise affect a change in policy. Control in the case of any other entity means the ability to exchange the principals of the organization, whether active or passive. In the case of a change of control request, the commissioner may require information the commissioner deems necessary to determine whether a new application is required. A licensee shall notify the commissioner fifteen days before any proposed change in the licensee's business location or name.","path":["Title 13 Debtor And Creditor Relationship","Chapter 13-08 Deferred Presentment Service Providers"],"source_url":"https://ndlegis.gov/cencode/t13c08.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"509faa7b1e14a833af9800c3805723ace873a67f96f558f6751e411c6b42bbf6","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-13-08-06","next":"us-nd/n.d.-cent.-code-13-08-08"},"notice":"GroundRules: Original legal text. Not legal advice."}