Title 6 — Banks and Banking
45 chapters · 536 sections in this title.
N.D.C.C. § 6-10-01 License required to act as agent for deposits
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No person, partnership, association, corporation, or limited liability company, except as otherwise authorized by law, may engage in the business of receiving, as agent for another, moneys for the purpose of deposit in a bank, without first having applied to the commissioner and …
N.D.C.C. § 6-10-02 License fee - Bond
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Such applicant shall pay to the commissioner an annual fee of twenty-five dollars, and shall furnish a bond to the state of North Dakota, executed by a corporate surety company authorized to do business in this state, in the sum of not less than five thousand dollars. Such bond f…
N.D.C.C. § 6-10-03 Limit on license
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No license may be granted for the purpose of conducting such business in any city wherein there already is operating a state or national bank or an authorized separate facility. In the event that a national or state bank or an authorized separate facility is authorized to do, and…
N.D.C.C. § 6-10-04 Agent must deposit funds as directed
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A licensee operating a business under the terms of this chapter may not loan any of the moneys given into the licensee's custody by any depositor for deposit in a bank, but shall promptly transfer said funds to the bank designated by the depositor, and each depositor has the righ…
N.D.C.C. § 6-10-05 Rules and regulations
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The commissioner is authorized to prescribe such rules and regulations for the operating of such business as in the commissioner's judgment, from time to time, may be necessary for the protection of the depositors dealing with such licensee, and has the power to require complianc…
N.D.C.C. § 6-10-06 Duty of commissioner
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The commissioner may make an examination of the business of such licensee, and such applicant shall pay an examination fee. Fees for such examinations must be charged by the department of financial institutions at an hourly rate to be set by the commissioner, sufficient to cover …
N.D.C.C. § 6-10-07 Revocation of license
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In the event of the failure of any person, partnership, association, corporation, or limited liability company to comply with the provisions of this chapter or the regulations promulgated by the commissioner as herein provided, the commissioner, after fifteen days' notice in writ…
N.D.C.C. § 6-10-08 Penalty
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Any person violating the provisions of this chapter is guilty of a class A misdemeanor.