Who requires it
North Dakota Department of Financial Institutions — Collection agencies
License & permit · North Dakota
North Dakota Collection Agency Bond
North Dakota collection agencies must keep a $50,000 surety bond under NDCC 13-05-04.1. The statute sets a fixed amount—not a volume schedule—and requires the commissioner’s form. If a claim is filed, the commissioner can require a new bond. If a claim is paid, restore the required amount right away. Keep coverage in place for the life of the collection-agency license through the Department of Financial Institutions / NMLS filing path.
Common bond amount
$50,000
Fixed $50,000 under NDCC 13-05-04.1; use the commissioner’s form.
How you file
File electronically through NMLS on the commissioner form
Renewal
Stay covered while licensed. If a claim is paid, restore the required amount.
Who requires it
Applicants for and holders of North Dakota collection agency licenses under NDCC chapter 13-05 filing with the Department of Financial Institutions.
How much is required
The statute sets a fixed $50,000 amount for each licensee.
How to get and file it
Arrange a $50,000 surety on the commissioner-prescribed form in the exact agency legal name and file through NMLS as DFI instructs. Keep the bond while licensed. If a claim is filed or paid, file a replacement promptly so the required amount remains available.
Cost note
Fifty thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required amount
- $50,000
- Form
- As prescribed by the commissioner
- After claim activity
- If a claim is filed, the commissioner can require a new bond. If a claim is paid, restore the required amount.
Official sources
Related resources
Frequently asked questions
Is the collection agency bond the same amount as the money broker bond?
Both use a $50,000 figure, but they are different licenses under different chapters. Collection agencies bond under NDCC 13-05-04.1; money brokers under 13-04.1-04.1.
Does North Dakota allow a cash deposit instead of this surety?
NDCC 13-05-04.1 states each licensee shall maintain a surety bond in the amount of $50,000. It does not authorize a cash-deposit substitute in that section.
Related North Dakota bond guides
Money Broker / Mortgage Lender Bond
≥ $50,000
North Dakota money brokers must keep a surety bond of at least $50,000 under NDCC 13-04.1-04.1. Residential mortgage lenders licensed under NDCC chapter 13-12—created in 2023 for residential mortgage lending that previously sat under the money-broker chapter—must keep the same at-least-$50,000 floor under NDCC 13-12-07. Both use the commissioner’s form. If a claim is filed, the commissioner can require a new bond. If a claim is paid, restore the required amount right away. Both credentials also carry a separate $25,000 minimum net-worth requirement that is not a substitute for the surety. File through the Department of Financial Institutions / NMLS as the current checklists require.
Money Transmitter Bond
$100,000–$500,000
North Dakota money transmission applicants and licensees must provide a bond under NDCC 13-09.1-33. The statute requires a surety bond in a form satisfactory to the commissioner or, with the commissioner’s approval, a deposit instead of a bond. The amount is the greater of $100,000 or 100% of the licensee’s average daily money transmission liability in North Dakota for the most recently completed three-month period, capped at $500,000. If the licensee’s tangible net worth exceeds ten percent of total assets, the required bond is $100,000. A licensee that already keeps the maximum $500,000 bond need not calculate average daily North Dakota liability for this section. Keep the bond or deposit in place for the entire license term and increase it when liability pushes the formula higher.
Notary Public Bond
$7,500
North Dakota applicants for a notary public commission must submit a $7,500 bond under NDCC 44-06.1-20 before the Secretary of State issues the commission. The statute accepts a surety bond or an approved equivalent from an issuer authorized in North Dakota, in the form the Secretary of State prescribes. Official Form SFN 19355 sets the same $7,500 amount and must cover notarial acts during the commission term. The surety must give the Secretary of State thirty days’ notice before cancelling and must notify the office within thirty days after paying a claim. A notary may perform notarial acts in North Dakota only while a valid bond remains on file. Commissions run four years and may be renewed by reapplying in the same manner as an original commission.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a North Dakota application
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Last verified 2026-08-12. This guide is based on verified educational content and official sources.
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