AN ACT to amend and reenact subsection 4 of section 6-01-07.1, subsections 4 and 5 of section 10-04-02, sections 10-04-03 and 10-04-16, paragraph 2 of subdivision a of subsection 1 of section 10-04-16.1, section 26.1-06-12, subsection 3 of section 43-10.1-01, subsection 2 of section 43-23.1-05, subsection 4 of section 51-19-02, subsection 3 of section 51-23-02, subsection 1 of section 51-23-15, subsection 1 of section 54-12-08, subsection 1 of section 54-59-22.1, subsection 4 of section 57-38.5-01, and subsection 5 of section 57-38.6-01 of the North Dakota Century Code, relating to the insurance commissioner assuming the duties of the securities commissioner; to provide for a transfer; to provide an effective date; and to declare an emergency.
What changed between versions
Added definitions clarifying that the 'commissioner' now refers to the securities/insurance commissioner and the 'department' refers to the state securities/insurance department.
Modified provisions to allow the insurance commissioner to assume all duties, powers, and responsibilities previously held by the securities commissioner, including rule-making and enforcement authority.
Established an investor education and technology fund that can receive civil penalties, grants, and donations for investor education purposes.
Modified conflict of interest provisions to apply to the combined securities/insurance commissioner role, prohibiting ownership of securities and employment with broker-dealers or investment advisers.
Minor formatting changes and text cleanup throughout the document, including removal of duplicate page headers and correction of some text formatting issues.
