North Dakota § 13-10-14 - Minimum net worth required
Full text of North Dakota North Dakota Century Code § 13-10-14 — Minimum net worth required, with citation guidance and answers to common questions.
§ 13-10-14. Minimum net worth required
A minimum net worth must be continuously maintained for mortgage loan originators in accordance with this section. If the mortgage loan originator is an employee or exclusive agent of a person subject to this chapter, the net worth of such person subject to this chapter may be used in lieu of the mortgage loan originator's minimum net worth requirement. 1. Minimum net worth must be maintained in the amount of twenty-five thousand dollars. However, the commissioner may increase the amount of minimum net worth if the commissioner determines that such an increase is necessary to protect the public interest. 2. The commissioner may promulgate rules or regulations with respect to the requirements for minimum net worth as are necessary to accomplish the purposes of this chapter.
Frequently Asked Questions About North Dakota § 13-10-14
What does North Dakota Century Code § 13-10-14 cover?
Section 13-10-14 ("Minimum net worth required") 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 § 13-10-14?
A common citation format is "North Dakota Century Code § 13-10-14" (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 § 13-10-14 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.