N.D. Cent. Code § 13-09.1-21

Current through the 2023 Legislative Sessions

Section 13-09.1-21 - Reports of certain events

1. A licensee shall file a report with the commissioner within one business day after the licensee has reason to know of the occurrence of any of the following events:

a. The filing of a petition by or against the licensee under the federal bankruptcy code [11 U.S.C. Section 101 - 110] , for bankruptcy or reorganization;

b. The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; or

c. The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.

2. A licensee shall file a report with the commissioner within three business days after the licensee has reason to know of the occurrence of any of the following events:

a. A charge or conviction of the licensee or of a key individual or person in control of the licensee for a felony; or

b. A charge or conviction of an authorized delegate for a felony.

N.D.C.C. § 13-09.1-21

Added by S.L. 2023 , ch. 137( SB 2119 ), § 2, eff. 7/1/2023.