North Dakota Administrative Code
Title 13 - Department of Financial Institutions
Article 13-05 - Money Brokers
Chapter 13-05-01 - Money Brokers
Section 13-05-01-05 - Restrictions on chargeable costs and expenses
Universal Citation: ND Admin Code ยง 13-05-01-05
Current through Supplement No. 392, April, 2024
In addition to the initial written contract, the money broker shall give to the potential borrower an estimate of the amount of chargeable costs and expenses that will be collected by the money broker in case no loan is found for the borrower. An estimated total cost to the borrower under these conditions must be itemized and stated to the borrower. All of these costs and expenses, if actually expended and chargeable to the borrower, must have been actually and reasonably expended for the potential borrower's benefit.
General Authority: NDCC 13-04.1-01
Law Implemented: NDCC 13-04.1-06
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