Title 6 — Banks and Banking
45 chapters · 536 sections in this title.
N.D.C.C. § 6-09.14-01 Definitions
0.7K chars
In this chapter, unless the context or subject matter otherwise requires: 1. "Business" means a corporation, limited liability company, partnership, individual, or association involved in manufacturing, processing, value-added processing, and targeted industries as defined by the…
N.D.C.C. § 6-09.14-02 Fund - Continuing appropriation - Administration
0.5K chars
A partnership in assisting community expansion fund is hereby established from a transfer of earnings from the Bank of North Dakota. This is a revolving fund, and all moneys transferred into the fund, interest on fund moneys, and payments to the fund are hereby appropriated for t…
N.D.C.C. § 6-09.14-03 Fund - Purpose - Interest rate buydown
0.7K chars
Moneys in the partnership in assisting community expansion fund must be used for the purpose of buying down the interest rate on loans made by a lead financial institution in participation with the Bank of North Dakota. The Bank of North Dakota's participation may not exceed eigh…
N.D.C.C. § 6-09.14-04 Fund moneys - Eligible uses
1.6K chars
1. The fund moneys may be used to participate in an interest rate buydown on a loan to a new or expanding business for the following eligible uses: a. Purchase of real property and equipment. b. Expansion of facilities. c. Working capital. d. Inventory. 2. The loan funds cannot b…