North Dakota Money Broker Bond Requirement Update

Money brokers in North Dakota are already required to acquire a surety bond in order to operate legally and register with the state; but a small modification to the requirement has recently been made. The old law asked money brokers to get a $25,000 surety bond, no more and no less. The new law, which is titled SB 2124, requires a minimum surety bond of $25,000. The surety bond amount required will be determined by state regulations.