This bill amends several sections of the North Dakota Century Code to enhance the budget approval process and reporting requirements for the Department of Financial Institutions. Key changes include the establishment of a continuing appropriation for the financial institutions regulatory fund, which allows the department to utilize funds without the constraints of traditional state fund appropriations. The bill also mandates that the state banking board and state credit union board hold joint meetings to approve annual or biennial budgets for the department, ensuring that a majority of members from both boards are present for quorum and decision-making.

Additionally, the bill introduces new reporting requirements, including a mandate for the commissioner to present a report to the legislative assembly's appropriations committees during each regular session. This report will summarize the department's activities, revenues, and expenditures. The bill also modifies the language regarding the salaries of the commissioner and deputies, specifying that their salaries and expenses must align with the budgets approved by the boards rather than being solely dependent on legislative appropriations. The act is set to expire on June 30, 2029.

Statutes affected:
PREFILED: 6-01-01.1, 6-01-04, 6-01-10, 6-01-11, 6-01-16
Adopted by the House Industry, Business and Labor Committee: 6-01-01.1, 6-01-04, 6-01-10, 6-01-11, 6-01-16
Enrollment: 6-01-01.1, 6-01-04, 6-01-10, 6-01-11, 6-01-16
INTRODUCED: 6-01-01.1, 6-01-04, 6-01-10, 6-01-11, 6-01-16