™Your Policy Risk Impact Agent
45 chapters · 503 sections in this title.
N.D.C.C. § 6-05.2-01 Policies and procedures on brokerage placement practices
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Each banking institution exercising investment discretion with respect to an account must adopt and follow written policies and procedures intended to ensure that its brokerage placement practices comply with all applicable laws and regulations. Among other relevant matters, the …
N.D.C.C. § 6-05.2-02 Administration of fiduciary powers
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1. The board of directors is responsible for the proper exercise of fiduciary powers by the banking institution. All pertinent matters, including the determination of policies, the investment and disposition of property held in a fiduciary capacity, and the direction and review o…
N.D.C.C. § 6-05.2-03 Books and accounts
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1. Every banking institution exercising fiduciary powers must keep its fiduciary records separate and distinct from other records of the banking institution. All fiduciary records necessary for reporting purposes must be maintained for such time as to enable the banking instituti…
N.D.C.C. § 6-05.2-04 Audit of trust activities
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A committee of directors, exclusive of any active officers of the bank, must, at least once during each calendar year and within fifteen months of the last audit, make suitable audits of the trust activities or cause suitable audits to be made by auditors responsible to the board…
