AN ACT to create and enact a new subsection to section 6-01-02 and section 6-03-59.2 of the North Dakota Century Code, relating to providing a definition for a financial corporation and to authorize lease financing of public facilities by a state-chartered bank; and to amend and reenact sections 6-01-01, 6-01-04, 6-01-04.3, 6-01-05, 6-01-06, and 6-01-09, subsection 1 of section 6-01-10, and sections 6-01-13, 6-01-14, 6-01-15, 6-01-16, 6-03-05, 6-03-11, 6-03-13, 6-03-27, 6-03-37, 6-05-04.1, 6-05-15.1, 6-05-26, 6-05-28, 6-05-29, and 6-08-27 of the North Dakota Century Code, relating to the management and control of entities regulated by the department of financial institutions, the powers and duties of the state banking board and state credit union board, assessment of civil money penalties, the taking of testimony and enforcement of orders, the appointment of receivers, the supervision and examination by the commissioner of financial institutions, the records kept and reports made by the commissioner of financial institutions, the appointment of an assistant commissioner and assignment of titles within the department of financial institutions, the reports of deputies of the commissioner of financial institutions, the prohibition of financial interest by officers and employees of the department of financial institutions in entities regulated by the department of financial institutions, the salaries of deputies of the commissioner of financial institutions, the regulation and limitation of loans on real estate, the conversion, consolidation, or merger of banking institutions, the removal to a new location of a banking association, requirements regarding how the list of shareholders of a banking institution is to be kept and when it is to be filed with the commissioner of financial institutions, reserve funds of banking associations, the right of action against security deposits of trust companies, responsibilities of trust companies to a beneficiary of a trust, reports regarding the increase in capital stock of trust companies to the state banking board, fees paid to the department of financial institutions by trust companies, the duty of the commissioner of financial institutions when an examination of a trust company discloses a violation of law, and the authorization and application by a nonresident bank or trust company intending to establish a place of business, branch office, or agency in the state.
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AN ACT to create and enact a new subsection to section 6-01-02 and section 6-03-59.2 of the North Dakota Century Code, relating to providing a definition for a financial corporation and to authorize lease financing of public facilities by a state-chartered bank; and to amend and reenact sections 6-01-01, 6-01-04, 6-01-04.3, 6-01-05, 6-01-06, and 6-01-09, subsection 1 of section 6-01-10, and sections 6-01-13, 6-01-14, 6-01-15, 6-01-16, 6-03-05, 6-03-11, 6-03-13, 6-03-27, 6-03... Show More ▼
Current Status
Governor signed
Last Official Action
Filed with Secretary Of State 04/16
Agency
Requested by the Department of Financial Institutions
