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June 23, 1960     The Billings County Pioneer
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m NQS covsv,z IONEEr. mC RA, N. THURSDAY, JUNZ 23, Z9S0 I~ OF STATE -- Bismarck, North Dakota -- To County Aud'~ors: accordance w%th Section 25, Constitution of the State of Nor%h Dakota, S~ct~o~ 16-0107 of t h~ N.orth. Dak<~a Revised Code of 194~, as amended, and Chapter 183 cf the 1959 Session Laws, I d~ hereby certify that the fonowlng Arnendn~nts and Referred Measure will be submitted to the voters at ~ne t~nmary ~i.e~mn ~ ~e neia Tuesday, June 28, ~. . tional WITNESS WHEREOF, I have hereunt~ set my hand and affixed the Great Seal of the State of l~ortn ~aKota at the Capitol in the City of Bismarck, this txenty-fifth day of April, 1960. SEAL B]~N MEIER, S~etary of Sta~e. CONSTITUTIONAL Primary Election, ]u 28, 1960 " , hxe enachn ]ballot contains the full text of four Constitutional Amendments proposed by leglsla " " n R 'ferred Measure that are submitted to the volers for approval er rejecti'oR. The voters must vole upon each measure separalely byplae It trots (X) tier the word t'YES" or "NO" following each question. If the voter does not vote upon all measures, only such as have beeu marked with a cross (X) as shove described will he counted. II II IUI I ! I [ [ I 1--- C( TITUTIONAL AMENDMENT No. 5 -- REFERRED MEASURE AUTHORIZING THE LEGISLATURE TO cREATE A SEPARATE DEPARTMENT OF LABOR,'TO DE- AI:THOBIZING SMALL IA)AN BUSlNESgES Tn LEND MONEY OF $tOOO.0O OR LESS, AND PRESCRIBING THE MAXIMUw RATI~ OF ~TIg]glgST 'W]~IICR MAT ]Big CRARG~D AND T0 IAC~IJll REGUI.ATE ~tt'H SMALL ].()AN HISINESSES. ~'ERMINE THE TERM OF OFFICE AND TIlE MANNER IN ~*/IIlCH TIlE OFFICE IS TO BE FILLED BALLOT TITLE: .AND TO PRESCRIBE TilE DUTIES ANB SALARY OF THE OFFICER 'ADMIN1STEBING SAID DE- House Bill 537 which is an Act to define, license, and regulate the business of lending in amounts of one thousand dollars or le~ ; to prescribe maximum rates Of charge which lic~$ ]PARTMENT, AND 1F SUCI! DEPARTMENT IS ESTABLISItED, THE COMMISSIONER OF AGRI- are permitted to make; to provicie for the administration and enforcement of the Act by the state examiner, and prescribe penalties. AND LABOR SIIALL BECOME THE COMMISSIONER OF AGRICULTURE ONL.~ . The fu 1 text of House Bi'l No, 53~, Thirty-sixth Legislative Assembly ol the State of North Dakota, (Chapter 136, 1959 Session Laws) ~ as follows: Concurrent Resolution "A", Chapter 437, 1959 Session Laws proposed by the 36th Legislative Assembly State of North Dakota to provide for the amendment of Sections 82, 83 and 84 of tl~e Constitution o~ me ,/ HOUSE BILL No. 537 An Act to define, license, and rc.~ulate the business of lending in amounts of one thousand dollars or less: to prescribe maximum rates Of charge which licensees are pe~ltt~d to North Dakota, relating to the tern] of office, powers and duties, and salaries of elected state officer~ it] to provide for the admi nstration and enforcement of the Act by the state examiner, and to prescribe penalties. allow the le~islative assembly to establish a separate department of labor by inserting as paragraph two ~a Iq" HNACTI:.I) BY THE I.E(;ISI.ATiVF &SSEMBIA' OF TIlE STATE O|: NoWfll DAKOTA: n 82 (Article 57) the Iollowlng words: "The legislative assembly may by law provide for a dei~rtment SECTION 1. DEEINTTIONS )" For'purposes of this Act unless the context or subject nmtter otherwise requires: which, if provided for, shall be separate and distract from the department of agriculture, and shall be 1. "'l'er~o." .a'.m~ ,m .Idi~ ~du.H ~: .cr~ ~ p . ~ .'ialmn. c.rpor on a.d a~y ~*th .r .~.t c.tlty ered by a publ e official who may be either elected or appolnied, whichever the legislative assembly shall 2. 'q.~ ,vu.t." lln,an~ a ~t.r~,t ~.t 1,cr "b authori v o th s Ac to make o s ~t'c~ r ~ce w he pr(w s, $ ol h ~ Act at a slng|e p ~ Ofla~ ne~; i 3. "l.ic~,~ce" .u ~ a I.'t t, wh,m .he .r more li c~v~ have been i~.cd. :~ and if such a department is established, the commissioner of agriculture and labor provided for above SECTION 2. ADMINISTRATIONh The state examiner shait use the tacilitles Of the banking department in administering and enforcing this Act. The state examine2 ~y e~]0~' become ~he commissioner of agricultm'e'; by adding to Section 83 the tallowing .words: "In the event that such employees as may be necessary to administer and enforce the provisions of this Act and may delegate his powers and duties under this Act to a deput~v state examiner. Snell k~I1~ legislative assembly shall establ sh a separate and distinct department of labor, the powers and duties of the and employees shall not have a financ at interest directly or indirectly in any business which is subject to this Act or in any other buMne~ which l~ supervised by the s~te examine minist mg such department of labor shall be prescribed by law,:'; and by deleting from Section $4 the in any similar business which is conducted under the authority of any law of the United States. All fees received by the state examiner Under the prov~aions of this Act shall be ot~lit~ words: "'Until otherwise provided by law. the governor shall receive an annual salary of three thousand to the general fund ol this state, the lleutenanS governor shall receive an annual salary of one thousand dollars; the secro~ary of state. superintendent of public nstruetion commissioner of insurance, commissioners of railroads, and SECTION 3, SCOPE.) la~ No person except persons licensed under the provisions of this Act shall engage in the business of lending In amount~ of one thousand dollare or le~ 1 each receive an annual salary of two thousand dollars; the salary of the commissioner of contract for, exact, or receive, directly or indirectly, on or in connection with any such loan, aDy charges whether for interest, compen~tlon, consideration, or expense, whi~ ~ labor" and insert in lieu thereof the words: "Salaries of public officers" so as to read as follows: aggTe~ate are groaner than seven percent per annum. (b) EXEMPTIONS.} This Act shall not apply to any person doing business under and as permitted by any law ~f this state or the United States relating ~ banking ss.-~e.2$~J~$~ 1T F-~AOTED :BY THE PEOPLE OF THE STATE OP NORTI-~ DAKOTA: banking mstitution~,~banks, savings banks, trust companies, savings or building and loan associations, mutual investmea~ corporations, mutual ~vings corporations, or credit unior~ nor ~Beetion 82. There shall be chosen by the qualified electors of the sta~e a~ me umes ann places oI nooslng any person conducting a bona fide pawnbroking business transacted under a pawnbroker's license nor shall such persons be eligible to become a licensee under this Act of the legislative assembly, a secretary of state, auditor, treasurer, snperintcndent of public instruction, co) EVASIONS,) The provisions of subsection (el of this section shall apply to any person who seeks to evade its application by any device, subterfuge, or pretense whateoev~r~ er of insurance, three public service commissioners, an attorney general, a commissioner of agriculture chiding, but not limited to: the loan, forbearance, use or sale of credit as guarantor, surety, endorser, co-maker, or otherwise; the use ~r sale of money, goods, or thln~ in action; tho ~ and a tax commissioner, who shall have attained the age of twenty-five years and shall have the collateral or related sales or purchases of goods or services or agreements to sell or purchase, whether real or pretended: recelvir~g or charging compensation for goods or services, of sense electors. They shall severally hold their offices at the sea~ of government for the term or not sold, deIivered, or provided; and the real or pretended negotiation, arrangement. ~r procurement of a loan through any use or activity o a third person, whether real Or flcti~ years and until their successors are elected and duty qualified; but pc person shall be eligible for the office SECTION 4. APPLICATION AND FEES.) Application for a license shall, be in writing, under oath, and in the form.prescribed by ti~ state examiner. Tho application ~ give for more than two consecutive terms; provided, however, the tax commissioner shall hold his office locat!on wnere t ne business is to be conducted and shall contain~such furti~er information as the state examiner may reqmre, including the names and. addrea~.~ of the .pa~ers, offl~ of four 'years and untO. his successor is elected and duly qualified; and provided further, that the directors, or ~rnstees, and of guch of the principal owners or members as will provide the basis for the investigations and findings contemplated by seettor~ 5 of this Act, At the tim commissioners shall severally hold their offices for i ~e term of six years and until their successors making such application, the applicant shall pay to the state examiner the sum of three hundred dollars as a fee for investigating the applicat~on, a d the sum of one hund~d dollars elected and duly'qualified, the annual license fee. The legislative assembly may by law provide for a department of labor which, if provided for, shall be separate SECTION 5. INVESTIGATION OF APPLICATION; REQUIREMENTS FOR ISSUANCE OF LICENSE; BOND; DENIAL OF LICENSE; PUBLIC ~ECORD.) d~tinet from the department of agriculture, and shall be administered by a public official who may be Ca) Upon the filing of an sDplication and the payment of the fees, therefore, the state examiner shall investigate the facts concerning the application The state examiner ~hall notify ~. r elected or appointed whichever the legis ative assembly-shall declare; and if such a department is estab- all licensees having a place of 13usiness in a conm~tlnity in which the applicant proposes to do business of the filing of such application within thirty days after the date of filing .~tc~ ~l, the.commissioner of'agriculture and labor provided for above shall become the commissioner of agriculture, application. If any licensee having a place of business in the same community or ether person files an objection within thirty days after the mailing of such notice hy the state e~ The tax commissioner shall be elected on a no-party ballot and he shall be nominated and elected in the or II as the resul~ of a preliminary in~estigatlon, the state examiner has any doubts of the applicant meeting the required standards, the .state examiner shall set a date and time for l~l'- mg on such apphcaJotl not less than thirty days nor mot'e t ha~s~xty days from the date of maihng the notice of hearing, At such hearing any perso~ may be heard with referen~ to ~mer Uow provided for the nomination and election of the superintendent of public instruction. The hrs~ elec- factS, The state exi miner shall grant or deny ,each apphcat~on for a ~cense within thirty days after the hearing unless the period Is extended by written agreement between the @ppli ~ of a tax commissioner shall not occur until the year 1940. and the state examiner. At the general 'election in 1940 there shalI be chosen two publle service eommissiouers to fill the two terms ~rlng on the first NIonday in January 1941. The candidate at said election receiving the highest number of tb) The state examiner may issue a license to operate a small loans business if he shall find: 1. Th.tt the f/mmci.d responsibility. .xpt.rlt.lwe character and gcnt.rnl fitness of the a ~ H~Cmlt. are such as in warrant the hcHe~ that the hu~es5 ~il ~ ol~em|ed l~PwI~i y, and laldy; sad shall be elected for a term of six years, and the candidate receiving the next highest number of votes shall ~. "rhat the a. ,llv.ult h.*.~ I,'t lilii~d ,issots o| nt )cast ten thousa.d dl,llar~ for the opcraliem of the business and ~, !~'~eeted for a term of four years. Thereafter there shall be chosen one such public service commissioner every 3. That th~ apl, lic lt sh,dl }!axe fih'd with the st so exal*dn~r9 .mr t(,~ !*t apprtlvtd hy him m 3~hich the n ~ dica.t shall be the obHgor. In the Sum of ten thousand dollnz$, with one or more sureties wbo~o lL~bfl W ~ $ot~ SIIICIIt'S I t't' t t~Ot t'XCt'('d the ~.lltl mini il~ th(" asgrcgatc, i nt~ I)ontl sn.~tt tun to lr~e ~tatc ox.ttnltlt.r for the rise* of th state am[ of any per~m or per~o.$ who m ly have a c; ~e ot action aga nst the obtisor of sa~l ~ ~Yq~he~r~ s~ ~ 11 ~.~ onmm~inner~ shall hereafter be known as the public service commission and the m. )r.vlslmts of thh Act. Such bl,tu] ~hall Jw cont]iOoneU that said ,dfl ~or writ fmthh,lb' ctmfl~rtn to arid abide |,y the prt,vision$ o[thl$ Act and of all the r~ .s and ~esul~tions lawfully made bF the state exam~ittee IN~k altcr, at,el will p,ly 1. th ~t.th. at;d to .t.y sttc'h pt,r~m t)r pt,rsorl~ ~tl|y atul al[jmmt.ys Ih;lt may bt.~-~nne due o owi~tg to the stale or to such person or pemtts from stud oi~li~or ~t|t~ ar~t hy vir~ o~ the provl~ls ~ ~ ~ ~,a ,~-,=r, o. ra . . . (c) If the state examiner shall find the applicant Is not quahzled to be issued a license, he shall enter an order denying the application m~d forthwith notify the applican~; of the de~fl~ ~s of the board oI railroad commiss criers as puhlic service commlssxoners and the powers end duties no ' '/~eafr~rgraon~mdd,~Ooand conferred upon the board of railroad commissmners ore hereby transfen'ed to the thereturn!ngewdencethesupporunghCense'fee theahand theandbendshallbUtforthwithretainiag.t.heaenverinVestigat~a copy t ereo~fee: ~oWi!hintne applicant.ten days after the entry of such an order he shall prepare official records of his find~ and ~ ~ ~ ~ecti~. 83 The powers and duties of the secretary of state auditor, treasuror, superintendent of public (d) The transcript of the hearing and evidence introduced at all hearing's before the state examiner and the findings of fact prepared by the state examiner ~haiI be p~l~ ~ ~ ~g~en commissioner of insurance, commissioners of railroads, attorney general and commissioner of agricui- open to inspection at all reasonable times. : ~ ~nd ~ber shall be prescribed by law. In the event that the legislative assembly shall establish a separate SECTION 6. POSTING OF LICENSE; CONTINUING LICENSE: ANNUAL FEE.) ~ 4t~t department of labor the powers and duties of the officer administering such department of labor |a~ Each license shall state the address at which the business is to. be conducted and shall state, fully the name of the licensee, and if the licensee Is a co-partnership or a~ ~l~ : ~ he pre~ribed by law the name of the members thereof, and ff a corporauon the date anu place of incorporation. Each license shall be kept posted in the licensed place of business and shall not be t~m~f~ ".~ jBeCtio~ 84. Salaries of public officers shall be as prescribed by law, but the satar!c~ o~. any ~f the sai~ onicers or assignable. :~$~ riot be increased or diminished during the period for which they shall have been eiected, and all lees and (b~ Each !iccnse shall remaht in full force and effect un!fl surrendered, revoked, o~" suspended, provided that on ,or before the"tenth day of June of each year ~e licensee shall pay~ arising from any of the said offices shall he covered inlo the state treasury, athebondStatein exammerthe same theamountSum and f oncin thehmtdred" dollarSsame characterf r aseaChis requiredhcense heldby subsectlonbY him asb3a ofhcensesection fcesf rof thethisSUCCeedingAct, fiscal year, and at the same time he shall file with the. state e~mm~l~ ~arch 2, 195.9 SECTION 7. PLACE OF BUSINESS; REMOVAL; RESIDENCE OF BORROWER.) ~. Said Constitutional Amendment Re Approved? ~a) Not more than one place of business for the making and collect!n~g of loans made pursuant to this Act shall be maintained under the same license, but the state examiner may k~l~ additional llcenses to the same licensee upon compIiance with all the provismns of this Act governing issuance fff a single liceme. Nothing in this Act Shall be construed to require alic~ for any place of business devoted entirely to accounting or other record keeping. |b) No licensee may move his place of business .so a location outside of the original city or town in which he is licensed witimut the issuance of a new license. When a. ll~Y~ wishes to change his hcensed place of business within the same city or town, he shall give written notice thereof to the state examiner who shall investigate the facts and l~vo YES disapprove the new location fox" the business. [~ tc~ Nothing m this Act shah oe construed to limit the loans of any licensee to residents of the community la which the licensed place of business is situated, nor to prohibit ~O loans by mail. ,SECTION g. REVOCATION OF LICENSE; SUSPENSION OP LICENSE; SURRENDER OF LICENSE; PRE-EXISTING CONTRAC'I~: I~INSTATI~ENT OF LICEnSeE,) |a~ The state exannner may, if he has reason to believe that grounds for revocation Of a license exists, send by registered Or certified mail to the licensee, a notice Of hearing sta~ the contemplated action and in general the.~ro.unds thereof a~d setting the time and place for a .hearing thereon. Such h ,i,d fling Shall not be held leas than ten nor more than ' days f~'om the date oz mamng such notice, w~n|n t~n clays aI e!' s,ucn nearing, the state examiner ~all issue a wmtten order eitner dismissing the charges or suspending or reyokAr~ th~ license and his grounds therefor, A copy of such written order snan ce ~nt to the licensee. A license may be revoked for one or more m the followh~ reasons: ]. "r c |ct-.~ct. h.~ f ih.d t. p.tv th u i licc.scc fc ; t~r o Th, "n.t'r vithcr k ~ b,* h" or ~,hi' xcrci~v oi chw C lt, to ~rt'~t't~t thv same )ms ~ iulatt~ any'pr~ visl, n of thi~ Act or a,~y regu ation or tder lawh y made p r~ ant to and w thin the author y o this ~L't: 2---CONSTITUTIONAL AMENDMENT . . 5 y | t . ,f |.r o.i ,o or 4. The :teplic.tnt h,t~ l,t*h,d t~ -in,l= a~l ld|[ct,* f(~r business wlth/t! otle hntldrc(l twvnty ILC,'*; froth thp tint(* the |icvnse is grat~tt,d or hit5 fltile,1o keep orion a }i~rnst~d office ~or a l~* hg[ ~ tree b~t~dre~ ~e'~ty d~, - "'~L|MINATING THE RESTRICTION ON THE SALE OF COAL LANDS AND" REQUIRING THE RESo The provisions of cl~apter 28o32 o[ the North Dakota Revised Co'de of.1943, as amended, Shall govern all proceedings relating to the suspension, or revocation of any license. ERv&T[ON'TO THE STATE OF ALL ~,IINERALS WHERE ORIGINAL GRANT SCHOOL LANDS AlOE (b) If the state examiner finds that probable cause for revocation of any hcense existS and that enforcement o[th.e ACt requires immediate suspension o such license pending lnve#.~. ~O][.~[} A1ND AUTHORIZING THE LEGISLATURE TO ENACT LAWS I:OR TIlE LEASING OF SUCH gation he may, upon wzut|en notice enter an order suspending such license for a period not exceeding thirty days, pending the holding of a hearing as prescribed in this Act. LAND FOR TIIE EXTR~TION AND SALE OF SUCII MINERALS. (c) Any licensee may surrender his license by delivering it to the state examiner with written notice of its surrendeg but such surrender shall not effect his civil or orlminal llab[K~ ~ ~Otl~ Concurrent Resolution "J" Chapter 436 1959 Sessiou Law! propo~t,d by the 36th Legislative Assembly for acts committed prior thereto. . . ~ the @tare of North Dakota to provide for the amendment of Scot:on 155 of the Constitution of theState of td) No revocation, suspension, or surrender of any l~cense shall impair or affect the obligation of a~y pre-existing lawful contract between the licensee and obligors. ~th I~k.ro ~o~o,~ *~ ~1~ ~f ~ri~inal ~rant school lands aud reservation of minerals therein by deleung irom ~e) The state exanti~er may reinstate a suspe~lded h~cnse or Issue new !icenses to a person ~'hose license or licenses have been revoked if in the opinion of the state examiner no ~n l~5~'~e'f'ol'~owi~n~wor'dsT-'@h~ coal)ands of the state shall never be sold, but the legislative assembly may or condition then e~lsts which clearly would have ~ustifmd h m m refusing originally to issue such hcense under this Act. ~q gel~ral 3 vi~ f~r leas n:' the same The words coal lands shall include iands bearing ]ignite coal."- SECTION 9. EXAMINATION OF LICENSEES; INyESTI.GATION ~; A~CESS TO HECORDS: WITNESSES: CEASE AND DESIST nailS: INJU~lqCTIONS: RECEIVER~.). ~ '~,'Y adding the following words: "In all sales of lands subject to the proy~smns of thin article all mine ~a) At least once each year the state examiner or ms nuiy authorized representatwes shall make an exarhination of the place of business of each licensee and of the loans, transactions' ~'el including but not limited to oil gas coal cement materials, sodium sulphate, sand and gravel, road books, papers, annual reports, and records of such he, on, see so far as they pertain to the business hccnsed under this Act. The actual cost of every examination shall be paid to the state ~l ~,~ ~hemical substa'nccs' mete'tile ores, uranium ores, cr colloidal or other clays, shall be examiner by every licensee so examined, suchsums snal~ oe paid by the state examiner to the state treasurer to be credited to the general fund of this state. ~'a~n~d'~''s ?fY~'~'~the state of North'Dakota except that le i~es may be executed for the extraction and (b} For the purpose of d~scovering violatmns of this Act or of securing reformation, lawfully required hereunder, the state examiner or his duly authorized representatives may at ~xcepuc~ ~ ~. "" " ( to time investigate the business and examine ~he books, accou its, papers and records u.sed thereto, of any hcensee or any other person whom the state exandner has rea~nable ca~e to l~t[e~ ~ ~t Such materials in such manner and upon such terms as the teg~sm ~ve as:emb]y may provide, so a~ is violating or is about to vmlate any provmion of this Act. Any person who shall advertise for, soheit or hold hin~elf out as willing to make or procure loans in ,the amount of or o~ ~~]hg~' ]~'~iii!~'~glii!ili!~si~----~'--'"" ~,~ ,-,~-,-,~ t~ w~ra !iyiiii~f:if~thl value of one thousand dollars or le~s at rates in excess.of scvcn percent per annum shall be presumed to be engaged In a business goven~ed by thls Act. :: ct The:statx= exami:" ~er ]s hereby authorized to mane. any. ex~im~nation, of any .licensee" or his place of bus nese, Including. all records of such bnsiness, or atty. other Witness, a*~ snv. ----,- Im~ he has reason tn believe the same is necessarY. All examinations of any hcensee, wttnes~s or records of any small 1can business shall be conducted in accordance with chapter 28-~2 Of tha No~:th Dakota Revised Code of 1943, as it may be amended. |d~ Whenever the state examiner has reasonable cause to believe that a~)y person is violating or is threatening to violate any provision of this Act; he may, in addition to all a~t0ns ~ el~lmaeblea~aYblVir:uef fretsh~, s.~ nres:~ en~re Lhanol~netha~fy t~mt ~eafte:: !lied expu'ahon of Yald tatar ye~. provided for in this Act and without prejudice thereto, enter art order reqmrmg such person to des|st or to refrain from such vlolatmn; and an action may be brought in the dtstnot tour'6 of the county in which the small "loan business is conducted or ill the dxstxtct court of Burleigh County by the altorney general and on behalf of the state examiner to enjoin such pel'~o~ ~ ~l~i~ o ~.~, h~|1 nrnvid~ f~r the sale" of all school i lnds sab)eet I~o Lne provisions ol this ar~lc , ~o~,~,~ ~ from engaging in or continuing such violation or from doing any aCt or acts in furtherance thereof. In addition to'all other means provided by law for the enforcement of a re.~'alnl~ ~all Sales of lands subject to the provisions of this article all mmcrals thereto, including but not limited to ~, ~al cement materials sodium su~hate, sand.and grawl, road material, building stone, chemical sub- order m" injunction, the court in which such action !s.brought shall have power and jurisdiction tO m~pound, and to appoint a receiver for the property and business of the defendant. ~- ~k= taIlie ores iu. dulloidal or other clays, s haJl be re~er~dsae%deax~er~ta~d.to the st~lnOneOrf ciading books, papers, document% and records pert~u|!mg thereto or so much thercof as thc court may deem rcasonably.necessary to prevent violations of this Act or to protect tile right~ a =;i"~ uakota except that leases may be executed for the extraction am~ a e ' |s m such ma 0orrowers. Suci~ receiver. ~hen appointed and qua~lfied, shall have such powers and duties as to custody, collection, admlnistratior~ winding up, and liquidati~ of such property and. bu~l- ~l~a suelt terms" as the legislative assembly may provide, hess as shall from time to me be conferrcd upon him by the court .- . SECTION 10, BOOKS AND RECORDS: ANNUAL REPORTS.~ " . " ~ch 6, 1959. " ' ~ Ca) Each hcensee shall keep and use in n|s.b.umness such boolcs.affd ac~bfintIn~'r~.otds asardIna~cord with ~ound-and accepted accounting practices and as may be prescribed by state examiner. Such licensee shall preserve SUCh ooo~s aim accounting records for a~ lea.~t two years steer making the final e~trY on any loan recorded therein. ~ Constitutional Amendment Be ~.ppro~ d. (b) Each licensee shall annually on or before the fifteenth.day of September file a report for the preceding fiscal year with the state examiner. Such report shall give in:f~m~ with respect to the financial condition of such hcensee and shall me u.de: the name ~md address of the ncensee, balance sheets at the begnmlng and end of the accounting period; a state- ment of Income and expenses for sa~d period, a reconciliation c~ surpms or net earnings with tl~e balance sheets; a schedule of aSsot8 used and useful in the small loan bumness; an analysl~ U of char~-es, size of loans aud ~ypes of security on loans of one thousanu collars or less: an analys|s of dehnouent accounts, an analysis of suits, rcpossesato~ and sales of chattels and st~h ~Et other ~blevant lnlormauou aa the sta~e examhtcr may require concerzm!g the business and operations during th,e preceding fiscal year. ~uch report shall be made under oath and sh~l bQ in the form prescribed by the state examiner who shell make and ptlbhsh annually an analysis and recapltulatmn of such reports. N Q;. ~ ~L :: El SECTION 11. REGULA'nONS AND O R/D.~.~p.ERTIylFAD COP].ES OF OFFICIAL .E~,Cq~.2. - :" -- "~'-~ ,= -. ~---~" *:---. ~" - (at* Tim ~t~ ~xamlne~ shall have 'f~w~'r ~}n~,)It~orlty to prommgate in accordahce Wlt, n cni~ser 2a-~z oz me ~0rm ~azota ~tteVt,~t U0~c of ~ a~ it W, ay bc at~en~d; ,Su~ 7 a~l regulations a~ may be rcaspnably necessa~ to easy out the provisions of this Act. ' ' t l n ' " '- ' ~' i " (b) On application of any person and.payme~ of the costs ther.epf, the ~at8 examiner~l! ~a~is~: a ce.:rtif!ed copy of any !co so, .regulation, or Order.- S]~[::~TION 12. ADVEP~TISING.I NO licensee or o~e~ person suolect m ~ms AC~ snan anvertu~, ampmy, ~ls~rmute, oroaocast, or televise any false, misleading, or decepMve statem~ ~ or re~resentat|on with regard to the rates, terms or emMitio~ fo~]oans, or cause or permit the same to be done. ' ~ON 13 OTHER BUSINESS IN THE SAME oFFICE; BUSINE~ CONFINED TO LICE, NSI~) OFFICE ) , ~ No busi~tess inwI~ ~ng the sale of tangible merchandise shall be conducted by any licensee under this Act or any other person withgl ~hc ~ame office room suite or lsce in wh a sn~afi loan business is carrie~d on. If the state examiner shall find, after a hearing, that the conduct of other bu~ines~ by the licensee or any othcc perse~ has conee~.led Pva~n ef TIONAL AMENDMENT " Act or of the rules and regulations made hereunder, he shall order such licensee in writing to desist from such conduct . FOR 40 SENATORIAL DISTRICTS AND ~9 STATE SENATORS AND .MAKItN~" IT Ib) No licensee shail make l~ansprovided for by this Act under any name, or at any place of business within this state, other than that stated in the license. ' AFTER EACH OFFICIAL CENSUS THAT TIlE CIIIEF JUSTICE OF THE SUPREME SECTION 14 bIAXIMUM CHARGES PERMITTED: REF.UND; DELINQUENCY CHARGES; DEFERMENT CHARGES: INBTALLME~T PAYMENTS: coNTRACT Pw,~.IOD" SPLrr, ATTORNEY GENERAL, AND SECRETARY OF STATE. AND THE MAJORITY AND MINORIo TI~G OF LOANS; NO FURTHER CHAP~GES.~ )ERS OF TIIE HOUSE OF REPRESENTATIVES REAPPORTION THE bIEMBERS OF THE l a) Every licensee may nmke loans in any amount not exceeding one thousand dollars, and may contract for, receive or collect on such loa~s, charges not in excess of tW0 and one~.l',mll' DF REPRESENTATIVES, ACCORDING TO THE CONSTITUTIONAL PROVISIONS, IF TItE percent per month on that part of the unpmd bala~me of,principal not exceemng two hundred and fifty dollars; two percent ~er month on that part of the m~pald balance of prlneipat ex- ,TIYE ASSEMBLY FAi/~S TO MAKE AN APPORTIONMENT. ceeding two hundred and fitty.dollars but not exceeding f|ve hundred donars; one and threeofourths percent per month on that part of the unpaid balance ol principal In excess of five Co 1 tion '* " Chapter 4gg 1959 Session Laws p~-oposed by the 36th Le~i~Iative'Assemblv hundred dollars but not exceeding ~even hundred and fifty dollars; and one and one-half percent per month on that part of the unpaid balance of l~ineipal exceeding seven hundred andt ncurrent Reso u ' ' - ~ titution o" tah~ of N.rth I~akota to .~Io;ide for the amendment of Sections 26, 29 and g~ of the Cons -. fifty dollars but not exceeding" one thousand .dollars. For the purpo~ ~t cOlmcPeUn~nguchdaer~e~ifor a ~actt~nsoOfbea month, whetheraat the maximum rate or less, a day shall be coh~idered I)~cota-re-lating to the establishment of senatorial districts, representation from sucn senatorial one-thirtieth of a month. Ammm.ts to be charged for any small I0 Y erce " - r s Act ay a. calculated and ch rged on a ~ted dollar Wer hundred basis but such ehar~es the House of RepresentatiVes, and the ,manner of reapportlon~ng me mbersn~wecntedwt~orthe I~ou~elo~ over-the entire term of the loan shall not be in excess o.t the equival,en~iP~ r~e~tag~l~arges on the monthly uni~Id balances of prlnc~al authorized in this section. In the event charges ~Ve~ after each federal decennial oe~.~Y aele~l~ irom ,~ec~:-- -.; ~,-:. :-"::: ,3-- '- are calculated and charged on a dcOlolnasr per hundredebdasls, the lOanorSnsar~al1 l ap cYont a~? esubst~ntl~fly ~e~mUeact iPoerl~od~i~ ~ts:~lola~ents otprincipal and charges, and the annual pereentag. nor more ~han fifty members." and inserting m lieu there of the zonov,~ng ~,~oras. zor~Y-~umb~ ~ simple interest equivalent shall be pzcuotlsly stat d m the note r u ed n co n t" " h . letin~ from' ~ection 29 the following words: "The legisia~ve assemv,y sum, ~,x y?% y (b) When any note or loan contract in which charges have been calculated and charged on a dollar per hundred basis is paid in full by cash, a new loan, renewal or otherwt~e ~n~ dh~i~e-the s~ate into as many senatorial districts as there are senators, which distr~S,ct~Sd~t~Y month or more before the final instaflment date, the hcensee shall refund or credit to the borrower a porhon of the total charges which shall be at least as great as the sum of t~ full hall he equal to each othe~ in the n~ber of inhabitants enu~lea to ~ep~esen~a~lo. periodic installment balanceS scheduledflo follow the mstall.ment dateflollow!ng the date of prepayment in full bearsto the sum of all the pertsdle installment balances of the loan conti'act, ;led to one senator and no more, and shall be composed of compact and contiguous territory; and b0~h sums to be determined accor~lng to the payment scneouies w~cn nan ~een.a,gr.eea Up 0hm the loan contract. ~narges during the month of payment shall be pro rated in the propof t]on that the number of days re~l~lnnlg in the il~tanment period nears to me to~al uays ox the installment perion. /~n relund Of one dollar or less need be made. ' any county shall be attd~hed to any other county, or partther.eof, so a~. to fo,rm "~ dis, t r.mtc The (c) On any note or lo~n contract in which charges have been calculated and charged on a dollar per hundred basis, a l~censee may charge, con~ct and receive on ~y ir~tallmeat ~f t~ ascertained and dete~nined shall continue lmtil cnangec~ oy row. ' ann lnser%n~g m ~u ~m~'ea~ -wOrds: "~a~h existing Senatorial district as provided by.law at the effective dateof.th~ ~ ~me~nment principal and charges continuing unpaid for five or more days from the date.such Paymentts due a sunw which shall not exceed the amo~n~ of charges dUring the final full month of th~ entl~ ~onstPalt~ a ~ermtorial district. Each ~enatorla! district shall, oe represen~ ~oyfon rese~or loan before maturity. Such charge may not be collected more than once mr thesame default: Tne chargemay be collected at the time of sucl~ ~efault or any time thereafter I~i~ -.k~t[~,n~t~.~ ~.~,~do.~ h ,~.|=t|n~ from ~tiona~ large35 thefromfOllowlngeach ~enatorialw rns: "Tnedistrlct.memuerSTheOZlegt~latlve~ne nott~a~mmulyV '~ shall,* however,for such st2bsequentthat if sUChdefault,charge be taken out of any payment received alter a defauit occurs and if such deduce.on results in the default of a subsequent installment no charge shall be made '~'~'~'~'J~v ~enth year' caUSe an enumeration o be made of all the inhabitantS of this state,(d) On any note or loan contract, in which charges have been.calculated and aharged on a dolIar per hundred basis, if the payment date for any scheduled ir~tallment i~ deferred One (~TJ'~;'::;" -~,'~|.~ after each such enumeration and also after each federal census, prco~ed or more full months and a corresponamg ueferment m made ~or aa sua~.q~ent:n~talrlime~ttas1, the licensee may ci~.~rgq and receive a deferm~ent charge which shall .not exceed une-~elffl~ 7~h'er~,mrebg~era~of~r~:'~hicl~ Shall constitute the senate of North Dakota and. the number of of the charges authorized in subsection (a) of this section.applled.to ~ne ba - c o p| c p I anu charges sue at Cne sate oz the deferment multiplied by the number of full'm~h~ during . ta rescrl ~hleh shall constitute' the hot~e o, representatives of North Dakota, within thelirmal~ d~tric~bed deferment in which no payment is made. Therea,ter, c~a;~ee~ :tn~e ~m~eao~esov~r ~fe:Lman~no~a~X~eelhl~fre ~btrhe l~e~:a~ne ~reeom~(m,r ~nd at the same ratio a~ tholagh no deferral ltution and at the same session shall proceea ,to reapportion the ssate into s'enamn -- ~ a or extension had been granted. ~ucn charges may.b~ cohe ~ [ion :b" of this "ection f ,r Y ea . : I o " h p p~ d .h~ lull ,during ,the d, efermeht period the 1~. ~aithis senatoriale~n~titutl n'~ieta;and to provided,fix the numberthat the f memberSlegislative,Ofassemblythe hoUsemay,Of representativeSus any regulart s.~sion,De electedre, period.r wer shall receive in addition to the rotund reqmreu unaer, sun ec t ~ ~ a re tuna o~ ma~ poruoa ot ~ne aesermen~ c a~ge ap~n~ame m any unexpired m0nths ol deferment t~tte into senatorial dlstxicts, and apl~tion.tho,se.r~. ~Ts. an.a ,re~,zesentatlves,r,~s ,P~tveI Y%~o~ae m = (el No licensee Shall enter i~toany contract of loan un.der thi~Act ~hlch tohnetzbo~r~i~l ~egfe~sto~ake ~ny schedu~dapa~ment of pfl.nci.p,~ and chutes more than twenty-fo~ U thereof the following, words: "Each ~natona, mstrm~ snau ~e represemeu m one-half c~dendar months from tl~e :~te.o~ maxing .su:n con,rac~ tte~Yto accCo~modate berro~ers ~i(~ seasonaPi i~P~esn%eoh~;g~t~coln~rL~e~h~oC~ ~h~t~l be pa,yable ~t.~l~ = 'es by.at least one representative except that any senatorial district comprised of more than one m~ttelv eotml ueriodlc intervals cxcep~ mas paymen~ cta~es m y co m . r,~ r~,oe su~alILlany := " ~---- : ' "--ent When a loan cont'act provides for mont~hly installments the first installment may be payable at any time within forty-flee days after the da~e of the tlcu~ l~pre,~mtefl t.n&enatOr, al m~rlc~.t'he House.xn auo,~,~a f:-nl~t~he~e~teat~lbY~m~~-= ~ ~ . a~a~La~nY, t~%P~rs~e~Tt~l~r.o ~Jlho~efat~e tnan~,~a~y~r~ce.~, a:~";~duce .~ ~ or permit any ncr~n, or husband and ~lfe, Jointly ore ~everallYt ' to be obligated, directly or .'ndlrectly, ur,~er ~re than one oontra~ .~f ~ t the ~ d~cennisl eel, proceed to a~l~rtiora.:$.~e ,l~lar~e of the ~n e.mbe~ of CheHOuse.o~,^l~ep~v~ time if- ~m I~ multiple loans.result in ~hlgher .~ ~. ot charge c~hanawOU~ovO~r~ol~2~h~r~ciltet~r~hl~i:e~hv or i~directr" ch--ed ocm~la'acted for or received However sueh re~.rl " -- rom the ~ ~e atoital dtssncta, Wl~,nan tne nmlm pre~cr, ueu uy vms vo*mta[utam~, -w- ;---= (g) NO further amount whatsoe r In adaltion to one ,o P n li ,~a .y y ~, craoms n ne-4~,b-~var~leral.~.nR~rl~n tricts If any Legislative Assembly ~nose, duty It is $0 ~m~x~e na shall~ot apply to court costS, lawful fees for the filing, recording oz rele~in,g in a y pub~.o office of any nmtrument se~ing a loan, and the identifiable charge or premiere for i~, ~ fail to make the same as herein prov, i.d:ed i~ sha~ be the duty 2.f" the Cht~ JU~o~ n~ a, save n~ n n~ rt ~*~-~-=v General Secretary of State. ann ,the m~x~ a~m uu~a~ ar~u=rs t~ .~o " -- [~ 15 REQUIREM]~'I~S FO~ .MAKING AND PAYMENTS OP LOANS CONFESSIONS OP J[rDGEM~NT INCOMPLETE "INSTRUMENTS; VALIDIT~ OF ~HATT~4 ~' ~,~*~'~"~: 'a=:~ fief the adtoun~ment of the legislature to make such apporuonmen~ arm 6~'I~ . . . ~ w,~o~ ~'~t he issued bY" the Ohief Justice announcing such apportionment which ~hall MORTOAGE.) (a) Every licensee shall: Olvo a me~e~pt p u ~, 'me senate ~tall ~ Colnpo~d Of f@r~yottin~ l~oe~'t'~ " to the v~oa m~gm~ a ~sn payment on aoooun* ut-at*y ,~ v,*/, y e *=, permit psyment to be made in ad~a ~n~ t~ sn amoUnt t.eqtml to one ,o.r mcr~ msta]lmen~ on any contract of loan at any tame d ring regular business hotwa and ollow a pro rata credit or xef~nd to the borrower of the 4, upon ~vpaymen~ ~ f,-- - -- ~ ' s e * ~$LV can~itu~ & senatorial distrlelh ~ remarry= ~.=~- --.~- ,~ -~,~,~-* ~ ~7 "-- any pledge a.d tmncel and return any note and any assignment given to the heen e . ~*==m~, ,i.oa aww ~n~t~ristl ~ ~omDrl~ og moFe sn~n one y ~ll Oe cp ~ I a a't--(eu --as many representatives as 4here are eeunt la sueh senatoriai dls(rJct. th~-~.'~= ^~ *h. m~bera of the Homm of Representatives to be eseesed frem the severm ~ena- ~lets. If any Legislative Assembly whOSe dutF. ~t ~ ~. ma&.e.~n apl~ruon~e nt s l~l l./xau x~o ~. ~me~@m" 'Pr vided~tl-.te. aud the maJorityit shall beamdtheminorityduty o.fje~aen;the Unmt:us~}Ceor me ~*ouee z o~'ne~u-P~--e~-'v*~ u~v~t~nn~u~'t;n~*,zpr~ -~, ~: w; ,~, %2~.v?. ~ ,*,~,-;, ,~ one ~nd dollars may ~harge interest only as permitted' by the general interest laWs of this state If the borrower or the borrower and his spout, in~h-~l~ ,~t~e~'t-of the le-~tore to make .h al~ar~lo--ent and when so n~le a pr~mm~uo~ anad o; ~;~'lY~;ha~:twot~r~i~c~eb] ~ss~tc~.tanding to the sa~e licensee at the same time with total principal balanees aggregating m excess of one thousand dollars then neither loan ~l~l~ t~ve Chief Jn~l~ ~,nnettneing nmh apportloment which slmll lmve the r~me force and eiiecg as bear g Y ,~ I~gkl~tlv. ~,mhl If the proceeds of ,ny loan made under this Act are used .o.dis:vhmargnl ~ofP[~;e~i~tni~i~debol o.f.the I~ ~ lfnot~c~to~ r~lcn~tO~x~:~to~f gh~%a~tn w%% p~:id~.su~:~d~i~ services and th 8, 1969 " e licensee acceptS from sucn person a turn'an y o~ p y p p uc,* ~u~axu w. ~ ~u ~ ~ u~ ~u~ Z~2 " ^"- or more such guaranties in any aggregate amount shall not affect the right of such licensee to make the'ch rge~ agah~t ~he. primary bon~ower authorized by store. ~m acc,c ,~succ u~ v,~ l 1 1 ane receivable Iram )~a1~tU~[o t Amendment Be Als1~r~Y ,h~= a~, I'. t~= ~v~ne that a licensee shall make a bona fide purchase of the business and all or suhstantla ly a I of the ; o er . ~ ~, or other lend~ no~ af~i~- ~'~"~ with the nurchaser and such licensee or other lender shall have an existing loan outstanding to one or more o~ the oorrow s whose con~4~ are pUrelmsed, such licorice ms~ '% . r =~ch --~cl~ase~hall be entitled to liquidate and collect the balances due on such contracts, including all lawful charges and interest at the rate or amot~ts agreed upon in such loan su Pte . (I) The following types of insttra~Ce may be written in connection with loans nmde by llcerusees under this Act, provided that they are l~ol~rlY lleeneed by the state stoner to wrlte such insurance: ' win torm fir dollars or more ded ' ' (a) ~ the case of motor vehicles, It, and wLndstorn~ or comprehenslve, Includlng fire, theft and Is ; ty ~'flble collision, (b) ~Y~lLt:nYd a~eg': upon ta igible personal property; and ' c~ ;inSt af tl .era, may be written, upon or ln.connecUon with anFfloan.ina.n amount .l)o .excormng ~ ~e " ~ not Iond ".he final n~turity date of the loan co~traet; prOv~ed, that m ,tne evenl; ox I'~qewal or ref~ nd of the unearned premium shall be credited or paid the ~rrower (2) ,ct, my gain or advanAage in th~ form Of ~o~on or otl~erwise, to ~i~e llCe~. . ~ emed to be an additional or/u~er ~'~ contract of loan, the contract of loan.at the time the loon is made. ; an Shall the more : DAKOTA: a tmrr~wer the license or