This bill amends various sections of the North Dakota Century Code to transfer the responsibilities of the securities commissioner to the insurance commissioner. Key changes include the deletion of references to the "office of the securities commissioner" and the "state securities department," replacing them with "insurance commissioner" and "insurance department." The bill establishes the "investor education and technology fund" for public education related to financial services and technology needs of the department. It also clarifies the commissioner’s authority to administer oaths, adopt rules, and impose civil penalties for violations of securities laws, while ensuring the commissioner maintains independence from regulated entities.

Additionally, the bill mandates that specific state agencies, including the Office of Administrative Hearings and the Office of the Governor, obtain centralized desktop support services from the information technology department, while removing the Securities Department from this requirement. The definition of "qualified business" is clarified to include criteria such as incorporation status and compliance with securities laws. The bill also outlines the transfer of appropriated amounts and full-time equivalent positions from the Securities Department to the Insurance Commissioner for the biennium beginning July 1, 2025, with an effective date set for July 1, 2025, and is declared an emergency measure to expedite its implementation.

Statutes affected:
INTRODUCED: 6-01-07.1, 10-04-03, 10-04-16, 10-04-16.1, 26.1-06-12, 43-10.1-01, 43-23.1-05, 51-19-02, 51-23-02, 51-23-15, 54-12-08, 54-59-22.1, 57-38.5-01, 57-38.6-01
Prepared by the Legislative Council staff for House Appropriations Committee: 6-01-07.1, 10-04-03, 10-04-16, 10-04-16.1, 26.1-06-12, 43-10.1-01, 43-23.1-05, 51-19-02, 51-23-02, 51-23-15, 54-12-08, 54-59-22.1, 57-38.5-01, 57-38.6-01
Enrollment: 6-01-07.1, 10-04-03, 10-04-16, 10-04-16.1, 26.1-06-12, 43-10.1-01, 43-23.1-05, 51-19-02, 51-23-02, 51-23-15, 54-12-08, 54-59-22.1, 57-38.5-01, 57-38.6-01