N.D. Admin. Code 13-06-01-03
Each applicant shall maintain a bond issued by a surety company authorized to do business in this state. The bond amount is generally based on the high point of the receivables of the applicant's business, as of the most recent March thirty-first report. If an applicant has more than one licensed location, the bond amount is based on the combined receivables of all locations as of the most recent March thirty-first report. The initial bond amount is based on projected receivables.
A minimum of a twenty thousand dollar bond is based on receivables less than one hundred thousand dollars; a minimum of a fifty thousand dollar bond is based on receivables from one hundred thousand dollars to two hundred fifty thousand dollars; and a minimum of a seventy-five thousand dollar bond is based on receivables greater than two hundred fifty thousand dollars.
However, the commissioner may require a higher bond in the commissioner's sole discretion. The basis for determining the bond amount or any increases in the amount will be based, in part, on:
N.D. Admin Code 13-06-01-03
General Authority: NDCC 13-08-10
Law Implemented: NDCC 13-08-03(4)