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North Dakota licensing

Do I need a debt collection license in North Dakota?

Yes. North Dakota requires a debt collection license issued by North Dakota Department of Financial Institutions.

State Laws

North Dakota licensing laws

3 verticals covered for North Dakota

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Reviewed by Cornerstone Staff28 years of financial services state licensing experience

This guide covers 3 regulated activities in North Dakota: North Dakota Debt Collection Laws & Regulations, North Dakota Money Transmitter Laws & Licensing, and North Dakota Mortgage Laws & Licensing Requirements. For each one, the summary below names the state agency in charge. It shows whether a license or registration is required. It also shows whether North Dakota calls for a surety bond before you can operate.

Oversight in North Dakota runs through North Dakota Department of Financial Institutions. All 3 of them need a surety bond before you can operate. The bond protects the state and your customers if you break the rules tied to your license.

States change their statutes and fee schedules often. Treat the details below as a starting point. Confirm the current rule with the regulator before you file. When you are ready, Cornerstone Surety Bonds can prepare and submit the North Dakota filings for you. We track every renewal date and keep your license in good standing year after year.

debt collection

North Dakota Debt Collection Laws & Regulations

Comprehensive guide to debt collection licensing requirements, regulations, and filing obligations in North Dakota. Learn about licensing fees, bond requirements, key statutes, and regulatory bodies governing third-party debt collectors in North Dakota.

Application process

To obtain a debt collection license in North Dakota, applicants generally need to submit a completed application to the North Dakota Department of Financial Institutions, provide a surety bond of $5,000, pass background checks for all control persons, and meet net worth or financial requirements. The application review typically takes 30-90 days.

Renewals

Debt collection licenses in North Dakota generally require annual renewal. Renewal generally involves submission of a renewal application, payment of renewal fees, updated surety bond confirmation, and any required annual reports. Late renewals may incur additional penalties.

Third-party debt collectors operating in North Dakota are also generally expected to comply with the federal Fair Debt Collection Practices Act (FDCPA). North Dakota may impose additional requirements beyond federal standards, including restrictions on communication methods, required disclosures, and limitations on fees that may be collected.

Key statutes

  • North Dakota Collection Agency Act (N.D.C.C. § 13-05-01) . Licensing of collection agencies

money transmitter

North Dakota Money Transmitter Laws & Licensing

Complete guide to money transmitter licensing in North Dakota. Covers application requirements, surety bond amounts, net worth minimums, FinCEN registration, and key statutes governing money transmission in North Dakota.

North Dakota money transmitter requirements at a glance

North Dakota money transmitter licensing requirements
Surety bond $25,000
Minimum net worth $100,000
Renewal cadence Annual
FinCEN MSB registration Required

Application process

To obtain a money transmitter license in North Dakota, applicants generally need to submit a completed application to the North Dakota Department of Financial Institutions, provide a surety bond of $25,000-$500,000, demonstrate minimum net worth of $100,000, provide audited financial statements, implement a comprehensive BSA/AML filings program, and pass background checks for all control persons. Many states now accept applications through NMLS. The application process typically takes 3-12 months depending on the state and complexity of the applicant's business model.

Renewals

Money transmitter licenses in North Dakota generally require annual renewal. Renewal typically requires submission of audited financial statements, updated surety bond, quarterly or annual transaction reports, BSA/AML filing documentation, and payment of renewal fees. Some states require call report filings on a quarterly basis throughout the year.

Money transmitters operating in North Dakota are also generally expected to register with FinCEN as a money services business (MSB) and implement a comprehensive BSA/AML filings program. This includes appointing a filings officer, developing written policies and procedures, conducting employee training, filing Currency Transaction Reports (CTRs), and submitting Suspicious Activity Reports (SARs). North Dakota may have specific requirements for cryptocurrency and virtual currency businesses.

Key statutes

  • North Dakota Money Transmitter Act (ND Code) . State-specific money transmission regulation
  • Bank Secrecy Act (Federal) (31 U.S.C. § 5311) . Federal BSA/AML requirements for money services businesses

mortgage

North Dakota Mortgage Laws & Licensing Requirements

Complete guide to mortgage licensing requirements in North Dakota. Covers MLO licensing through NMLS, lender and servicer licensing, bond requirements, and key statutes governing mortgage origination and servicing in North Dakota.

Application process

Mortgage companies generally apply through the NMLS (Nationwide Multistate Licensing System) for North Dakota mortgage licensing. Requirements include a completed MU1 form, surety bond, audited financial statements, business plan, background checks (FBI criminal and credit) for all control persons, and net worth requirements. Individual MLOs are generally required to complete pre-licensing education (20 hours minimum including 3 hours of federal law, 3 hours of ethics, 2 hours of non-traditional lending, plus North Dakota-specific hours), pass the SAFE MLO test, and submit an MU4 form through NMLS.

Renewals

Mortgage licenses in North Dakota are renewed annually through NMLS. Company renewals require updated financial statements, bond confirmation, and payment of renewal fees. MLOs are generally required to complete continuing education (8 hours minimum annually, including North Dakota-specific requirements) and pay renewal fees through NMLS. The renewal period typically runs November 1 through December 31.

All mortgage companies and MLOs operating in North Dakota are generally required to be registered through NMLS. North Dakota participates in the CSBS multi-state licensing process. Additional requirements may include maintaining a physical office, appointing a qualified individual, and filings with both state and federal regulations including TILA, RESPA, and the Dodd-Frank Act.

Key statutes

  • SAFE Act (Federal) (12 U.S.C. § 5101) . Federal framework for MLO licensing through NMLS
  • North Dakota Mortgage Lending Act (ND Code) . State-specific mortgage lending and servicing regulation in North Dakota

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State Laws

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Bonds and insurance in North Dakota

Where North Dakota conditions a license on a posted surety bond, these pages carry the statutory bond amount and filing steps.

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North Dakota regulator contacts

The state agencies that issue and oversee the licenses above.

  • North Dakota Department of Financial Institutions debt collection, money transmitter, mortgage licensing

Planning tools and data

Scope a North Dakota expansion before you file.

Download the North Dakota dataset (CSV) License, bond, fee, and renewal data for North Dakota in one file.
Regulatory Watch

Stay Ahead of the Rules

Recent rule changes, deadline announcements, and state agency updates we are tracking for you.

  • Action CSBS May 7, 2026

    CSBS MTMA guidance on stablecoins and lease accounting

    On April 23, 2026, CSBS issued Money Transmission Modernization Act implementation guidance covering stablecoins and right-of-use leases. The guidance is meant to support consistent state treatment of tangible net worth, permissible investments, and surety bond calculations.

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