Who requires it
North Dakota Department of Financial Institutions
License & permit · North Dakota
North Dakota Money Broker and Mortgage Lender Bond
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. In both statutes the bond must be in a form the commissioner prescribes. When a claim is filed on the bond, the commissioner may require a new bond, and the licensee must file a new bond immediately after any recovery. 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.
Common bond amount
≥ $50,000
Floor under NDCC 13-04.1-04.1 (money broker) and 13-12-07 (residential mortgage lender); commissioner may require a new bond after claims activity.
How you file
File electronically through NMLS on the commissioner form
Renewal
Maintain while licensed; replace immediately after a claim recovery
Who requires it
Applicants for and holders of North Dakota money broker licenses under chapter 13-04.1, and residential mortgage lender licenses under chapter 13-12, filing with the Department of Financial Institutions.
How much is required
Both statutes set a floor of $50,000. Confirm with DFI whether your volume or supervisory conditions require a higher amount on the commissioner form.
How to get and file it
Confirm whether you need a money broker license, a residential mortgage lender license, or both for your activity, arrange an authorized surety for at least $50,000 on the commissioner-prescribed form, and file electronically through NMLS as DFI instructs. Keep the bond in force for the entire license term. If a claim is filed or a recovery is paid, furnish a replacement bond promptly so the required amount remains available. Do not treat net-worth compliance as a bond substitute.
Cost note
Fifty thousand dollars is the minimum required bond amount, not the premium you pay. Minimum net worth under each chapter is a separate capital showing. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Money broker (13-04.1)
- Bond of at least $50,000
- Residential mortgage lender (13-12)
- Bond of at least $50,000
- Related (not a bond substitute)
- $25,000 minimum net worth under each chapter
- After claim activity
- New bond when action commenced (as commissioner requires) and immediately upon recovery
Official sources
Frequently asked questions
Did residential mortgage lending leave the money broker license?
Yes for the dedicated residential mortgage lender credential. Chapter 13-12 created a separate residential mortgage lender license while money brokering continues under chapter 13-04.1. Both still require at least a $50,000 surety.
Does meeting the $25,000 net-worth rule replace the bond?
No. Net worth and surety are separate statutory requirements. You must maintain both.
Related North Dakota bond guides
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.
Collection Agency Bond
$50,000
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 bond in a form prescribed by the commissioner. When a claim is filed on the bond, the commissioner may require a new bond, and the licensee must file a new bond immediately after any recovery. Keep uninterrupted coverage for the life of the collection-agency license through the Department of Financial Institutions / NMLS filing path.
Motor Vehicle Dealer Bond
$10,000–$50,000
North Dakota dealers must file a surety bond with the Motor Vehicle Division before the department issues the matching dealer license. New and used motor vehicle dealers post $25,000 under NDCC 39-22-05. Trailer dealers and motor-powered recreational vehicle dealers post $10,000 under NDCC 39-22.1-02 and 39-22.3-05. Mobile home and manufactured home dealers post $50,000 under NDCC 39-18-02. Across these chapters, the bond runs to the state and covers customers for statutory compliance failures—including proper title delivery. Claims cannot exceed the bond amount. The surety may cancel future coverage by certified mail to the dealer and the department; thirty days after mailing, the bond no longer covers later liability. The MVD dealer handbook states that cancellation suspends the dealer’s license. Keep the bond name aligned with the dealership’s licensed business name.
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
North Dakota will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-12. This guide is based on verified educational content and official sources.
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