Title 6 — Banks and Banking
45 chapters · 536 sections in this title.
N.D.C.C. § 6-09-01 Purpose and establishment of Bank of North Dakota
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For the purpose of encouraging and promoting agriculture, commerce, and industry, the state of North Dakota shall engage in the business of banking, and for that purpose shall maintain a system of banking owned, controlled, and operated by it, under the name of the Bank of North …
N.D.C.C. § 6-09-02 Industrial commission to operate Bank - Business of Bank
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The industrial commission shall operate, manage, and control the Bank of North Dakota, locate and maintain its places of business, of which the principal place must be within the state, and make and enforce orders, rules, regulations, and bylaws for the transaction of its busines…
N.D.C.C. § 6-09-02.2 Authority of the advisory board of directors to the Bank of North Dakota
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The advisory board of directors to the Bank of North Dakota shall: 1. Meet regularly with the management of the Bank of North Dakota to review the Bank's operations to determine whether recommendations should be made by the board to the industrial commission relating to improved …
N.D.C.C. § 6-09-05 Removal and discharge of appointees
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The industrial commission may remove and discharge any and all persons appointed in the exercise of the powers granted by this chapter, whether by the commission or by the president of the Bank. All appointments and removals contemplated by this chapter must be made as the commis…
N.D.C.C. § 6-09-06 Capital of Bank
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Repealed by S.L. 1979, ch. 138, § 1.
N.D.C.C. § 6-09-07 State funds must be deposited in Bank of North Dakota - Income of the Bank
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All state funds and funds of all state penal, educational, and industrial institutions must be deposited in the Bank of North Dakota by the persons having control of such funds or must be deposited in accordance with constitutional and statutory provisions. All income earned by t…
N.D.C.C. § 6-09-08 Nonliability of officers and sureties after deposit
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Whenever any of the public funds hereinbefore designated are deposited in the Bank of North Dakota, as hereinbefore provided, the official having control thereof and the sureties on the bond of every such official shall be exempt from all liability by reason of loss of any such f…
N.D.C.C. § 6-09-10 Guaranty of deposits - Exemption from all taxation
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All deposits in the Bank of North Dakota are guaranteed by the state. Such deposits are exempt from state, county, and municipal taxes of any and all kinds.
N.D.C.C. § 6-09-11 Bank a clearinghouse
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For banks that make the Bank of North Dakota a reserve depositary, it may perform the functions and render the services of a clearinghouse, including all facilities for providing domestic and foreign exchange, and may rediscount paper, on such terms as the industrial commission s…
N.D.C.C. § 6-09-14 Bank of North Dakota may deposit in any bank
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Repealed by S.L. 1989, ch. 110, § 11.
N.D.C.C. § 6-09-15 Powers
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The Bank of North Dakota may: 1. Make, purchase, guarantee, or hold loans: a. To state-chartered or federally chartered lending agencies or institutions or any other financial institutions. b. To holders of Bank of North Dakota certificates of deposit and savings accounts up to n…
N.D.C.C. § 6-09-15.1 Loans to general fund authorized - Continuing appropriation - Report
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The state treasurer and the director of the office of management and budget may, when the balance in the state general fund is insufficient to meet legislative appropriations, borrow from the Bank of North Dakota in an amount that at no time exceeds the total principal amount of …
N.D.C.C. § 6-09-15.2 Bank may invest in certain government sponsored stocks - Limit
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Repealed by S.L. 1989, ch. 110, § 11.
N.D.C.C. § 6-09-15.3 Bank stock loans - Requirements
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Repealed by S.L. 1989, ch. 110, § 11. 6-09-15.4. Participations in loans to small business concerns - Direct loans to nonprofit corporations. Repealed by S.L. 1999, ch. 82, § 1.
N.D.C.C. § 6-09-15.5 Bank loans to beginning farmers - Revolving loan fund - Requirements
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1. A revolving loan fund must be maintained in the Bank of North Dakota for the purpose of making or participating in loans to North Dakota beginning farmers for the purchase of agricultural real estate, equipment, and livestock. All moneys transferred into the fund, interest upo…
N.D.C.C. § 6-09-15.7 Bank may invest in a public venture capital corporation
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Repealed by S.L. 1989, ch. 110, § 11. 6-09-15.8. Bank of North Dakota may make loans for improvement of facilities under the control of the parks and recreation department. Repealed by S.L. 1989, ch. 110, § 11. 6-09-15.9. Limitations on loans by the Bank of North Dakota - Disclos…
N.D.C.C. § 6-09-16 Funds transferred to state departments - How credited by state treasurer
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Repealed by S.L. 1979, ch. 142, § 1. 6-09-17. Office of management and budget to issue warrants against transferred funds. Repealed by S.L. 1979, ch. 142, § 1.
N.D.C.C. § 6-09-18 Real estate loans - Application - Appraisal - Action on loans
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Repealed by S.L. 1967, ch. 91, § 2.
N.D.C.C. § 6-09-19 Conditions of real estate mortgage - Extension of payments
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Repealed by S.L. 1967, ch. 91, § 2. 6-09-20. Mortgage and note payable to manager of Bank - Recitals - Recording - Satisfaction and discharge. Repealed by S.L. 1967, ch. 91, § 2.
N.D.C.C. § 6-09-21 Sale and assignment of note and mortgage - Extension of payments limited
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Repealed by S.L. 1967, ch. 91, § 2. 6-09-22. Assignment of note and mortgage to state treasurer - Payments - Satisfactions. Repealed by S.L. 1967, ch. 91, § 2.
N.D.C.C. § 6-09-23 Partial release and satisfaction of mortgages assigned to state treasurer
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Repealed by S.L. 1967, ch. 91, § 2. 6-09-24. Partial payments - Sale and assignment of mortgages assigned to state treasurer. Repealed by S.L. 1967, ch. 91, § 2. 6-09-25. State treasurer may lease lands acquired through foreclosure of Bank mortgages - Oil and gas leases. Repealed…
N.D.C.C. § 6-09-26.1 Execution of instruments
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Repealed by S.L. 1989, ch. 110, § 11.
N.D.C.C. § 6-09-27 Civil actions on Bank transactions - Name of parties - Service - Venue
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1. Civil actions may be brought against the state of North Dakota on account of claims for relief claimed to have arisen out of transactions connected with the operation of the Bank of North Dakota upon condition that the provisions of this section are complied with. In such acti…
N.D.C.C. § 6-09-29 Examinations and audit reports
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1. The state auditor shall contract with an independent certified public accounting firm for an annual audit of the Bank of North Dakota in accordance with generally accepted government auditing standards. On request of the state auditor, the industrial commission shall assist th…
N.D.C.C. § 6-09-30 Repayment of moneys appropriated for Bank to state
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Repealed by S.L. 1967, ch. 91, § 2.
N.D.C.C. § 6-09-31 Sale of land held by state treasurer as trustee for state
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Repealed by S.L. 1967, ch. 91, § 2.
N.D.C.C. § 6-09-32 Bank may adopt rules governing sales
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Repealed by S.L. 1967, ch. 91, § 2.
N.D.C.C. § 6-09-33 Bank of North Dakota to administer assets of rural rehabilitation corporation
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Repealed by S.L. 1989, ch. 110, § 11.
N.D.C.C. § 6-09-34 Electronic fund transfer systems
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The Bank of North Dakota may establish, under such rules and regulations as adopted by the industrial commission, a system to provide fund transfer services to its customers and to the customers of state-chartered and federally chartered banks located within the state of North Da…
N.D.C.C. § 6-09-35 Confidentiality of Bank records - Exempt records
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1. The following records of the Bank of North Dakota are confidential: a. Commercial or financial information of a customer, whether obtained directly or indirectly, except for routine credit inquiries or unless required by due legal process. As used in this subsection, "customer…
N.D.C.C. § 6-09-36 Bank of North Dakota - Custodian of securities
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Notwithstanding any other provision of law to the contrary, the Bank of North Dakota shall replace the state treasurer as the custodian of all securities that are required to be deposited with the state except that the state treasurer is the custodian of all securities resulting …
N.D.C.C. § 6-09-37 Sale and leasing of acquired agricultural real estate
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The sale and leasing of agricultural real estate with an appraised value of ten thousand dollars or more acquired by the Bank of North Dakota through foreclosure or deed in lieu of foreclosure must be done in accordance with chapter 15-07 or 15-09 and policies adopted by the indu…
N.D.C.C. § 6-09-39 Truckdriver training programs - Loans to students
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Expired under S.L. 2007, ch. 79, § 2.
N.D.C.C. § 6-09-40 Reimbursement of Bank losses
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Repealed by S.L. 2007, ch. 87, § 2.
N.D.C.C. § 6-09-41 Livestock loan guarantee program - Establishment - Rules
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Expired under S.L. 2005, ch. 57, § 5.
N.D.C.C. § 6-09-42 Health information technology loan fund - Appropriation
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Repealed by S.L. 2015, ch. 427, § 6.
N.D.C.C. § 6-09-43 Health information technology planning loan fund - Appropriation
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1. The health information technology planning loan fund is established in the Bank for the purpose of providing low-interest loans to health care entities to assist those entities in improving health information technology infrastructure. This fund is a revolving loan fund. All m…
N.D.C.C. § 6-09-44 Residential mortgages
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1. The Bank may establish a residential mortgage loan program under which the Bank may originate residential mortgages if private sector mortgage loan services are not reasonably available. Under this program a local financial institution or credit union may assist the Bank in ta…
N.D.C.C. § 6-09-45 Required transfer - Special education contract costs
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Repealed by S.L. 2017, ch. 12, § 26. 6-09-46. Rebuilders loan program - Loan fund - Continuing appropriation - Requirements. Repealed by S.L. 2021, ch. 79, § 2. 06-09-46.1. Rebuilders home loan program - Rebuilders home loan fund - Continuing appropriation - Requirements. Repeale…
N.D.C.C. § 6-09-47.1 Long-term care facility infrastructure loan program
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1. The Bank of North Dakota shall administer a loan program to provide loans to nursing and basic care facilities for renovation projects or the construction of new facilities. A construction project may include a land purchase and the purchase, lease, erection, or improvement of…
N.D.C.C. § 6-09-49 Infrastructure revolving loan fund - Continuing appropriation
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1. The infrastructure revolving loan fund is a special fund in the state treasury from which the Bank of North Dakota shall provide loans to political subdivisions, the Garrison Diversion Conservancy District, and the Lake Agassiz water authority for essential infrastructure proj…
N.D.C.C. § 6-09-49.1 Legacy infrastructure loan fund - Continuing appropriation
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1. The legacy infrastructure loan fund is a special fund in the state treasury from which the Bank of North Dakota shall provide loans to political subdivisions, the Garrison Diversion Conservancy District, and the Lake Agassiz water authority for eligible infrastructure projects…
N.D.C.C. § 6-09-49.3 Rail revolving loan fund - Continuing appropriation
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1. The rail revolving loan fund is a special fund in the state treasury from which the Bank of North Dakota shall provide loans to counties, cities, railroads, and other freight railroad users to construct or upgrade rail infrastructure to improve rail service. 2. The Bank shall …
N.D.C.C. § 6-09-50 North Dakota financial center - Lease rates - Payments in lieu of taxes
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(Contingent effective date - See note) The North Dakota financial center is a building that is owned by the Bank of North Dakota and is adjacent to the building in which the Bank of North Dakota is housed. The Bank of North Dakota shall lease the space in the North Dakota financi…
N.D.C.C. § 6-09-51 Dynamic fiscal impact analysis
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Expired under S.L. 2017, ch. 364, § 3. 6-09-52. Bulk propane storage tank revolving loan fund - Continuing appropriation - Audit and costs of administration. 1. The bulk propane storage tank revolving loan fund is a special fund in the state treasury from which the Bank of North …
N.D.C.C. § 6-09-53 Economic diversification research fund - Report to legislative management
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1. There is created in the state treasury the economic diversification research fund. The fund consists of all moneys deposited in or transferred to the fund pursuant to legislative action. Moneys in the fund may be spent by the Bank of North Dakota pursuant to legislative approp…
N.D.C.C. § 6-09-54 Extraordinary medical needs housing loan fund - Continuing appropriation
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1. The Bank of North Dakota shall administer a loan program to provide loans for new construction projects to provide housing for individuals with disabilities that have extraordinary medical needs. A construction project may include a land purchase and the construction costs of …