North Dakota Residential Money Broker Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $50,000 | 1 Year | $500 |
Businesses required to hold a North Dakota money broker license must maintain a surety bond in an amount of at least $50,000. Required by the State of North Dakota, the North Dakota residential money broker bond helps ensure compliance with applicable money broker licensing requirements and provides financial security for covered obligations.
Cost of the North Dakota Residential Money Broker Bond
The cost of the $50,000 North Dakota residential money broker bond is $300 per bond term with NNA Surety.
How the North Dakota Residential Money Broker Bond Works
The North Dakota residential money broker bond holds licensed money brokers financially accountable for covered obligations under North Dakota money broker law.
The bond involves three parties:
Principal: Licensed money broker
Obligee: State of North Dakota
Surety: Bonding company
A claim against the bond may arise from covered conduct or obligations secured by the bond. If an action is commenced on the bond, the Commissioner may require a new bond, and a new bond must be filed immediately after recovery on an action. The principal is responsible for reimbursing the surety for valid covered claims paid.
How to Get the North Dakota Residential Money Broker Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the $300 bond premium.
- Receive the bond form via email.
- File the bond as required for your North Dakota money broker license.
Learn more about your North Dakota surety bond options across the state.
Secure Your North Dakota Residential Money Broker Bond
Keep your North Dakota money broker licensing requirements on track by securing the required bond with NNA Surety. Complete this form or call 855-457-2196 to get bonded.