Qualifications for Issuance: State or National Bank License

Qualifications for Issuance: State or National Bank License. The director shall issue a banking license when a state or national bank has complied with the following requirements: (a) The director has approved the application submitted by the bank pursuant to 4 CMC § 6226. (b) The annual license fee of $1,000 has been paid to the director. (c) The director finds that the bank meets the requirements found in 4 CMC §§ 6209 and 6210. Source: PL 3-104, § 232; amended by PL 8-3, § 2. Commission Comment: With respect to the references to the “director” of the Department of Commerce and Labor, see Executive Order 94-3 (effective August 23, 1994), reorganizing the executive branch, changing agency names and official titles, and effecting other changes, set forth in the Commission comment to 1 CMC § 2001.