On April 19, 2021 Gov. Doug Burgum (R) signed into law ND SB 2103 (2021), which amends the so-called “North Dakota Money Brokers Act” (N.D. Cent. Code §§ 13-04.1-01 et seq.). Amendments include the addition of a new Ibid. § 13-04.1-09.3, which practically stipulates that specific loan terms must be made within the loan contract, as well as promulgating new late charge restrictions. This bill takes effect on August 1, 2021.
We are currently reviewing these amendments to determine any impact, and evaluating any modifications, to our document library and/or systems. Any modifications we make as a result will be announced on our website (https://compliance.docutech.com/).