North Dakota § 13-05-07 - Manner in which records and funds to be kept by collection agency
Full text of North Dakota North Dakota Century Code § 13-05-07 — Manner in which records and funds to be kept by collection agency, with citation guidance and answers to common questions.
§ 13-05-07. Manner in which records and funds to be kept by collection agency
1. Every collection agency licensed under this chapter shall keep a record of all sums collected by it and of all disbursements made by it for a period of six years from the date of last entry thereon. The records of a licensee may be maintained electronically provided they can be reproduced upon request of the department of financial institutions and within the required statutory time period provided in this section. 2. When a licensee ceases operations for any reason, the licensee shall be required to inform the department of the location of the records required to be maintained in accordance with section 13-05-07. In addition, the licensee shall provide the name of the individual responsible for maintenance of the records. The licensee shall notify the 3. 4. department within ten business days of the change of the location of the records or the change of the individual responsible for maintenance of the records. No licensee, individual, or person subject to investigation or examination under this section may intentionally make any false entry in any such collection agency record or knowingly withhold, abstract, secrete, remove, mutilate, destroy, or otherwise dispose of any books, records, computer records, or other information within the time limit provided in this section. No licensee under this chapter may commingle the money of collection agency customers with other than collection funds and shall maintain a separate bank account for such customer's funds and shall keep such funds in the bank account until disbursed to the customer.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 13-05-07
What does North Dakota Century Code § 13-05-07 cover?
Section 13-05-07 ("Manner in which records and funds to be kept by collection agency") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 13-05-07?
A common citation format is "North Dakota Century Code § 13-05-07" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 13-05-07 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.