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Can you summarize NDCC Chapter 6-03?
Banks and Banking > Powers, Management, and Operation of Banks
Short Summary
This legal document governs the powers, management, and operation of banks in North Dakota. It applies to banks and banking institutions in the state. The document outlines the process for banks to establish and operate separate facilities, as well as the requirements for moving previously established facilities. Banks must apply to the commissioner or comptroller of the currency for approval and provide relevant information as requested. The commissioner considers the convenience, needs, and welfare of the community and area served, as well as the financial strength of the bank. In the case of a merger, the former main office and facilities of the merging banks become facilities of the surviving banking institution without the need for a separate application. If the commissioner’s decision on an application is unfavorable, the applicant bank has the right to appeal to the state banking board. The document does not specify any exemptions. Any officer, director, or employee who knowingly violates or permits the violation of any provisions is guilty of a class B misdemeanor.
Whom does it apply to?
Banks and banking institutions in North Dakota
What does it govern?
The powers, management, and operation of banks in North Dakota
What are exemptions?
No specific exemptions are mentioned in this document
What are the Penalties?
Any officer, director, or employee who knowingly violates or permits the violation of any provisions is guilty of a class B misdemeanor
Jurisdiction
North Dakota