North Dakota Code 13-09.1-21 – Reports of certain events
1. A licensee shall file a report with the commissioner within one business day after the licensee has reason to know of the occurrence of any of the following events:
Terms Used In North Dakota Code 13-09.1-21
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Conviction: A judgement of guilt against a criminal defendant.
- following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
- Individual: means a human being. See North Dakota Code 1-01-49
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
a. The filing of a petition by or against the licensee under the federal bankruptcy code [11 U.S.C. § 101-110], for bankruptcy or reorganization; b. The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors; or
c. The commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed.
2. A licensee shall file a report with the commissioner within three business days after the licensee has reason to know of the occurrence of any of the following events:
a. A charge or conviction of the licensee or of a key individual or person in control of the licensee for a felony; or
b. A charge or conviction of an authorized delegate for a felony.