Unauthorized Assumption of Liability. Except as expressly permitted in this division, a Commonwealth bank shall not assume liability as an insurer or as a guarantor or indorser of any security instrument or obligation in which or with respect to which it has not property interest. Source: PL 3-104, § 1001.
Unauthorized Assumption of Liability
4 CMC § 6802, under Prohibited Practices, Sanctions.
4 CMC § 6802