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Current as of January 01, 2024 | Updated by Findlaw Staff
1. A participating member shall pay the administrative expenses of the plan in a manner determined by the board. The board:
a. Or a vendor retained by the board, may charge reasonable administrative expenses and deduct those expenses from a participating member's account in the deferred compensation plan established under this chapter.
b. May pay the administrative expenses of the plan from fines and fees collected from a vendor in a manner determined by the board.
c. Shall deposit vendor fines and fees and any money deducted from a participating member's account in an administrative expenses account with the state treasurer.
d. May use funds from the payroll clearing account established under section 54-52.3-03 and the administrative expenses account to pay for consulting expenses.
2. All money in the payroll clearing account and the administrative expenses account are appropriated to the board on a continuing basis for the purpose of retaining a consultant as required for the administration of this chapter.
Cite this article: FindLaw.com - North Dakota Century Code Title 54. State Government § 54-52.2-03.4. Administrative expenses--Continuing appropriation - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-54-state-government/nd-cent-code-sect-54-52-2-03-4/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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