Legal Status
Legal
Citation
N.D. Cent. Code 13-08-01 et seq.
Loan Terms
Maximum Loan Amount: $500
Loan Term: No more than 60 days
Maximum Finance Rate and Fees: 20% of the amount advanced
Finance Charge for 14-day $100 Loan: $20
APR for 14-day $100 Loan: 521%
Debt Limits
Maximum Number of Outstanding Loans at One Time: Maximum of $600 Outstanding for all lenders. N.D. Cent. Code, § 13-08-12
Rollovers Permitted: Yes, only once on the same loan, and another loan can't pay it off. N.D. Cent. Code, § 13-08-12(6)
Cooling-off Period: 3 Days N.D. Cent. Code, § 13-08-12
Collection Limits
Collection Fees: Yes, NSF fee that may not exceed $40. N.D. Cent. Code § 6-08-16
Criminal Action: Prohibited. N.D. Cent. Code § 13-08-12.