Title 6 — Banks and Banking

Any number of persons, not less than nine, at least three of whom must be residents of this state, may associate themselves and form a corporation for the purpose of transacting business as an annuity, safe deposit, and trust company. Its existence shall be perpetual. At the time…

No person, firm, company, copartnership, or corporation, either domestic or foreign, not organized under this chapter nor subject to its provisions, except only national banking corporations, state banks authorized under this chapter, state banks or trust companies authorized to …

The amount of capital of any such corporation may not be less than one million dollars, with no less than five hundred thousand dollars of that amount in liquid assets. The state banking board may require such additional capital, surplus, and undivided profits as it may determine…

The security deposited with the department of financial institutions as provided in section 6-05-04 must be held by the department of financial institutions for the benefit of any person making any transfer or deposit of money or property in the state of North Dakota to or with a…

Whenever any such corporation assigns, transfers, and delivers to the commissioner, or a designated agent, the securities described in section 6-05-04 and all evidences of such investment, the commissioner, or a designated agent, shall execute and deliver to the corporation a cer…

All the corporate powers of such a corporation must be exercised by a board of directors of not less than three nor more than twenty-five in number, and such officers and agents as it elects or appoints. At least two-thirds of the directors must be citizens of the United States. …

An annual election must be held at the principal office or place of business of the corporation, which must be within this state, upon a day to be fixed by the articles of the corporation, and notice of such election must be given by registered or certified mail at least ten days…

A corporation, when qualified as provided by section 6-05-04, may: 1. Acquire, lease, purchase, own, hold, use, improve, mortgage, sell, and convey such real estate and personal property as may be necessary for the convenient transaction of its business. It may acquire real estat…

Repealed by S.L. 1991, ch. 82, § 7.

Whenever any sum or sums of money, or any real or personal property, has been received by, deposited with, or conveyed to be held by such a corporation for savings or investment account, or in trust under any of the provisions of subsection 1, 2, 3, or 4 of section 6-05-08, such …

The directors of any such corporation have discretionary power to invest all moneys received by it on deposit or in trust, and the investment or deposit of which otherwise may not be limited or directed, in such securities as are herein authorized. The corporation is responsible …

An officer or employee of any trust company, before entering upon the person's duties, shall furnish a bond to the trust company in the sum and upon the conditions as required by the board of directors in keeping with rules adopted by the state banking board. All bonds must be ap…

Any such corporation is not required to give any bond or security in connection with the execution of any trust, or in any suit, action, or special proceeding, during the performance of any such trust, in any court in this state.

Any executor, administrator, guardian, conservator, trustee, assignee, or receiver may resign that person's trust in favor of a corporation organized, acting, and qualified under this chapter, and thereupon, such corporation may be appointed as trustee by any court having jurisdi…

For the faithful performance of any trust, duty, obligation, or service imposed or conferred upon or accepted by any corporation under the provisions of this chapter, it is entitled to receive a reasonable compensation, or such compensation as may have been fixed by the contract …

Any sum of money, which is collected or received by any such corporation in its trust capacity, and which is not required for the purposes of the trust, or which is not to be accounted for within one year from the date of collection, receipt, or deposit, must be invested by the c…

Any trust company may invest all moneys received by it in authorized securities, and shall be responsible to the owner or beneficiary of a trust for the validity, regularity, quality, value, and genuineness of these investments and securities so made, and for the safekeeping of t…

Notwithstanding the provisions of section 6-05-15, any bank or trust company qualified to act as fiduciary in this state may: 1. Establish and maintain common trust funds for the collective investment of funds held in any fiduciary capacity by it or by another bank or trust compa…

A bank or trust company qualified to and acting as fiduciary or cofiduciary in this state may deposit trust funds awaiting investment or distribution in a bank, including, without limitation, a bank that owns or controls, or that is owned or controlled by a corporation that owns …

Such corporation may not loan its funds, moneys, capital, trust funds, or any other property whatsoever to any director, officer, agent, or other employee thereof, nor may any such director, officer, agent, or other employee become in any manner indebted to said corporation by me…

Every such corporation is subject at all times to the orders, judgments, and decrees of any court of record from which or under which it has accepted any trust, appointment, or commission as to such trust, and shall render to the court such itemized and verified accounts, stateme…

Repealed by S.L. 1969, ch. 117, § 1. 6-05-19. Fidelity insurance and corporate suretyship - Domestic and foreign corporations. Repealed by S.L. 1983, ch. 332, § 26. 6-05-20. Execution and acceptance of bond from surety company - Bond as compliance with law. Repealed by S.L. 1983,…

Repealed by S.L. 1983, ch. 332, § 26. 6-05-22. Domestic surety companies and agents must obtain certificate from insurance commissioner. Repealed by S.L. 1983, ch. 332, § 26.

Repealed by S.L. 1983, ch. 332, § 26.

Repealed by S.L. 1983, ch. 332, § 26.

Repealed by S.L. 2015, ch. 80, § 8. 6-05-26. Increase in capital stock - Action by stockholders - Report to state banking board. The capital stock of such a corporation may be increased from time to time by a majority vote of its stockholders. Such action may be taken at any regu…

Whenever it appears to the commissioner, from an examination of the business of any such corporation, that the deposit made by it, as hereinbefore required, is insufficient to insure the safety of its deposit, trust, and contingent liabilities, the commissioner shall make an orde…

If it appears to the commissioner from any examination made by the commissioner that any such corporation has committed a violation of the law or that it is conducting its business in an unsafe or unauthorized manner, or that the deposit made by it with the department of financia…

Repealed by S.L. 1983, ch. 332, § 26. 6-05-32. Foreign corporation doing fidelity or surety business to pay tax - To whom paid - How determined. Repealed by S.L. 1983, ch. 332, § 26.

Repealed by S.L. 1983, ch. 332, § 26. 6-05-34. Other code provisions applicable to corporations doing business under this chapter. The provisions of title 10, as it may be amended from time to time, governing profit corporations, and sections 6-01-06, 6-01-09, 6-03-11, 6-03-12, 6…