Title 6 — Banks and Banking

All municipal securities held by the public finance authority as permitted or provided for under this chapter must at all times be purchased and held in fully marketable form, subject to provision for any registration in the name of the public finance authority. All municipal sec…

After issuance, all bonds of the public finance authority are conclusively presumed to be fully authorized and issued under the laws of the state, and any person or governmental unit is estopped from questioning their authorization, sale, issuance, execution, or delivery by the p…

1. The service provided or made available by a political subdivision through the construction or acquisition of an improvement, or the revenues therefrom, financed in whole or in part with a loan to the political subdivision from the public finance authority or any other state ag…

1. If the public finance authority or a paying agent notifies the superintendent of public instruction, in writing, that a school district has failed to pay when due the principal or interest on any evidences of indebtedness issued after July 31, 1999, or that the public finance …

The public finance authority may issue bonds or other evidences of indebtedness on behalf of other state agencies, instrumentalities, or officers, including the farm finance agency, industrial commission, North Dakota building authority, student loan trust, and any other state ag…

Commercial or financial information of a contracting party provided to the public finance authority as part of any qualified small issue bonds or municipal industrial revenue bonds purchased or issued by the public finance authority, whether obtained directly or indirectly, are c…

The Bank of North Dakota shall administer the state guarantee loan program as provided in this chapter. The advisory board of directors to the Bank of North Dakota appointed pursuant to chapter 6-09.1 shall act in an advisory capacity concerning the program.

The Bank of North Dakota may take, hold, and administer, on behalf of the state from any source, any property, or any interest in the property, and the income therefrom, either absolutely or in trust, for any purpose of the state guarantee loan program; provided, that no guarante…

Expired under S.L. 2013, ch. 87, § 4.

Any loan guaranteed by the Bank of North Dakota must bear interest at a rate not in excess of the interest charged by the lender to other persons for similar types of loans not guaranteed by the Bank unless the Bank determines that a higher rate of interest is justified by specia…

Whenever it appears to the satisfaction of the Bank of North Dakota that a guaranteed loan is in default, and the eligible lender has certified this fact to the Bank, the Bank shall reimburse the eligible lender making the loan from the reserve fund to the extent the loan was gua…

The Bank of North Dakota may charge reasonable fees for guaranteeing of loans under this chapter, and the fees must be available to defray costs of administering the state guarantee loan program. Fees in excess of the amount required to pay the cost of administering the program m…

Repealed by S.L. 2011, ch. 82, § 4.

The Bank of North Dakota may guarantee the loan of money by banks, credit unions, lending institutions that are part of the farm credit system, and savings and loan associations in this state to eligible persons for the purchase of agricultural real estate or the restructuring of…

As used in this chapter, unless the context or subject matter requires otherwise: 1. "Beginning farmer" means an individual who qualifies as a beginning farmer who: a. Is a resident of this state; b. Receives more than half of that person's gross annual income from farming, unles…

There is hereby created a beginning farmer loan guarantee fund which must be used by the Bank to carry out the provisions of this chapter. The fund must include the moneys appropriated by section 54-17-31 as it existed on June 30, 1983, and all earnings, less any administrative c…

Repealed by S.L. 2019, ch. 54, § 13.

The term of a loan guarantee may not exceed five years. The Bank may charge a seller or lender an annual fee during the term of a loan guarantee.

A loan guarantee may be terminated by the Bank upon the sale, exchange, assignment, or transfer of the beginning farmer's interest in the qualified agricultural property and must be terminated if the Bank determines that the loan guarantee was obtained by fraud or material misrep…

The Bank shall adopt rules to implement this chapter, which 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 guarantee, and the maximum allowable annual interest rate on a loan…

This chapter may be known as the Family Farm Survival Act of 1985.

In this chapter, unless the context or subject matter otherwise requires: 1. "Farmer" means a resident of this state who owns or operates an existing farm or ranch operation, and has a debt-to-asset ratio of fifty percent or greater or a net worth of less than an amount determine…

1. The Bank of North Dakota shall make available an appropriate amount of funds to purchase participation interests in operating loans to farmers. Interest charged on a participation interest purchased by the Bank under this section may not exceed one percent less than the Bank's…

1. The industrial commission may adopt rules relating to the maximum rate of interest charged on the portion of the operating loan retained by a participating financial institution. 2. All participation interests purchased are subject to the review and approval of the Bank.

1. There is hereby established an interest rate buydown fund to be maintained by the industrial commission at the Bank of North Dakota. 2. The industrial commission may buy down or reduce the interest paid by a farmer or agribusiness on the Bank's portion of the participation ope…

Repealed by S.L. 1989, ch. 117, § 4; S.L. 1989, ch. 110, § 11.

The industrial commission may adopt such rules and guidelines as are necessary to implement sections 6-09.9-01 through 6-09.9-05.

As used in this chapter, unless the context requires otherwise: 1. "Board" means the credit review board, or its authorized agent when applicable. 2. "Farmer" means a person who is or was involved in the production of an agricultural commodity or livestock.

1. The board consists of: a. One individual who has experience as a director or officer of a financial institution, appointed by the governor; b. One individual who has experience as a director or officer of a financial institution, appointed by the attorney general; c. One indiv…

In addition to other powers and duties enumerated in this chapter, the board shall: 1. Establish policy for the North Dakota mediation service. 2. Recommend policies and procedures to the industrial commission regarding farm loan programs of the Bank of North Dakota.

1. The agriculture commissioner shall establish and administer a mediation service. 2. The commissioner shall appoint the administrator of the mediation service and shall hire negotiators, mediators, and other necessary personnel. 3. The board may establish the fees to be paid by…

Each member of the board is entitled to receive compensation in the amount of one hundred thirty-five dollars per day plus reimbursement for expenses as provided by law for state officers if the member is attending meetings or performing duties directed by the board.

A farmer, creditor, person dealing with a farmer, person eligible for mediation with an agency of the United States department of agriculture, a landowner, or an owner, lessee, or lessor of mineral interests may request assistance from the North Dakota mediation service. Upon rec…

The board, commissioner, administrator, negotiators, mediators, and other personnel are not subject to any liability arising from any actions or omissions in attempting to reach a settlement.

Repealed by S.L. 2011, ch. 83, § 15.

1. On July 1, 2011, the state treasurer shall transfer any moneys remaining in the home-quarter fund to the agriculture commissioner. 2. Any moneys transferred, as required by subsection 1, are appropriated to the agriculture commissioner, for the purposes of this chapter. 3. If …

Repealed by S.L. 2011, ch. 83, § 15.

Repealed by S.L. 2011, ch. 83, § 15.

Repealed by S.L. 1997, ch. 98, § 3.

Repealed by S.L. 1997, ch. 98, § 3.

Repealed by S.L. 1997, ch. 98, § 3.

Repealed by S.L. 1997, ch. 98, § 3.

Repealed by S.L. 1997, ch. 98, § 3.

Repealed by S.L. 1997, ch. 98, § 3.

The board may adopt rules under chapter 28-32 as are necessary to implement this chapter.

1. a. Information created, collected, or maintained, by the North Dakota mediation service, in the course of any formal or informal mediation, is confidential and not subject to the open records requirements of section 44-04-18. The information may be released only upon the writt…

The agriculture commissioner may receive and expend any public or nonpublic moneys that become available for the purpose of defraying the expenses of the North Dakota mediation service.

In this chapter, unless the context or subject matter otherwise requires: 1. "Family farm" means agricultural real estate operated and owned or leased by a farmer, or other organization authorized to own or lease land used for farming or ranching under chapter 10-06.1, where the …

Repealed by S.L. 2019, ch. 54, § 13.

1. The Bank of North Dakota may make available an appropriate amount of funds to purchase participation interests in loans made by financial institutions for the purposes as set forth in section 6-09.11-04. a. Interest charged on a participation interest purchased by the Bank und…