The 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 must summarize the department's activities, revenues, and expenditures. The salary and expenses of the commissioner and deputies will now be determined within the budget approved by the boards, rather than being solely based on legislative appropriations. The act is set to expire on June 30, 2029, after which it will no longer be effective.

Statutes affected:
INTRODUCED: 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
PREFILED: 6-01-01.1, 6-01-04, 6-01-10, 6-01-11, 6-01-16