Title 6 — Banks and Banking
45 chapters · 536 sections in this title.
N.D.C.C. § 6-09.15-01 Definitions
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As used in this chapter, unless the context otherwise requires: 1. "Beginning entrepreneur" means a resident of this state who: a. Has graduated from high school or has received a general equivalency certificate. b. Has had some training, by education or experience, in the type o…
N.D.C.C. § 6-09.15-02 Loan guarantee fund - Administration
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A beginning entrepreneur loan guarantee fund is created to be used by the Bank of North Dakota to administer a beginning entrepreneur loan guarantee program to be used in conjunction with other loan programs. The fund includes moneys appropriated by the legislative assembly for a…
N.D.C.C. § 6-09.15-03 Application for guarantee - Term - Annual fee
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A lender may apply to the Bank of North Dakota for a loan guarantee for a loan amount to be determined by the Bank. The Bank may approve a guarantee of a loan of up to five thousand dollars to a beginning entrepreneur for use by the beginning entrepreneur for accounting, legal, a…
N.D.C.C. § 6-09.15-03.1 Loan guarantee for child care facility
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A beginning entrepreneur who receives a loan for a child care facility must be a child care provider.
N.D.C.C. § 6-09.15-04 Termination
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The Bank of North Dakota may terminate a loan guarantee upon the sale, exchange, assignment, or transfer of the beginning entrepreneur's interest in the qualified revenue-producing enterprise. The Bank shall terminate a loan guarantee if the Bank determines that the loan guarante…
N.D.C.C. § 6-09.15-05 Rules
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Notwithstanding any provision of this chapter, the Bank of North Dakota shall adopt rules to implement this chapter. The rules may include a formula for determining the ratio of reserves in the loan guarantee fund to the amount of guaranteed loans, the maximum dollar amount of a …