North DakotaNorth Dakota’s insurance commissioner oversees investment sales and investment advisers
North Dakota’s insurance commissioner administers rules for investment sales and advisers, and the law assigns approved department money and staff positions for July 2025 through June 2027.
What it does
North Dakota’s insurance commissioner administers rules for investment sales and advisers. The law directs the transfer of the securities department’s approved money and staff positions for July 2025 through June 2027.
After each budget year closes and expenses are accounted for, the state transfers securities fund money above $1 million to its general fund, unless another law says otherwise.
Argument forPutting investment oversight and its approved staff under the insurance commissioner could make coordination easier within one state office.
Argument againstKeeping up to $1 million in the securities fund could leave less money available for other state services.
More detail
The insurance commissioner administers state securities laws, which govern investment sales and advisers. The transfer covers resources approved for the securities department for the state budget period from July 1, 2025, through June 30, 2027. The Office of Management and Budget must transfer the securities department’s approved money and full-time staff positions to the insurance commissioner. The law took effect July 1, 2025.
The Office of Management and Budget must transfer the securities special fund’s remaining balance above $1 million to the state’s general fund. The rule covers the securities special fund, which holds money used to pay for state investment oversight. The transfer occurs after the fiscal year closes and all expenses for that year have been accounted for. The rule applies unless another law provides otherwise. The law took effect July 1, 2025.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Apr 21Filed with Secretary Of State 04/17Latest
- Apr 18Signed by Governor Kelly Armstrong 04/17Became Law
- Apr 16Sent to GovernorTo Governor
- Apr 15Signed by President
- Apr 15Signed by Speaker
- Apr 11Second reading, passed, yeas 40 nays 6, Emergency clause carriedMajor
- Vote recorded Motion for Final Passage on SB 2214. Result: pass.Upper
- Apr 11Concurred
- Apr 2Returned to Senate (12)
- Apr 1Emergency clause carried
- Vote recorded Motion for Final Passage on SB 2214. Result: pass.Lower
- Apr 1Second reading, passed as amended, yeas 88 nays 1Passed House
- Mar 31Amendment adopted, placed on calendar
- Mar 28Reported back amended, do pass, amendment placed on calendar 21 0 2Minor
- Mar 12Rereferred to Appropriations
- Mar 12Reported back, do pass 14 0 0Minor
- Mar 12Committee Hearing 10:15
- Mar 7Introduced, first reading, referred Industry, Business and Labor CommitteeMinor
- Feb 25Received from Senate
- Feb 24Second reading, passed, yeas 29 nays 18Passed Senate
- Vote recorded Motion for Final Passage on SB 2214. Result: pass.Upper
- Feb 20Reported back, do pass, place on calendar 4 1 0Minor
- Jan 29Committee Hearing 02:15
- Jan 16Introduced, first reading, referred Industry and Business CommitteeIntroduced
Government & EthicsTaxes & BudgetConsumer Protection