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Can you summarize NDCC Chapter 6-09?
Banks and Banking > The Bank of North Dakota
Short Summary
The legal documents reviewed pertain to The Bank of North Dakota and cover various aspects of its operations and functions. The Bank is authorized to engage in the business of banking and maintain a system of banking owned and operated by the state. It has the power to make, purchase, guarantee, or hold loans to various entities, including lending agencies, financial institutions, farmers, individuals, bank holding companies, and nonprofit organizations. The documents also establish loan funds for specific purposes, such as providing loans to beginning farmers, supporting higher education savings plans, and funding infrastructure projects. The Bank is responsible for administering and managing these funds, including the approval and disbursement of loans. Additionally, the documents address the confidentiality of Bank records, examinations and audit reports, and the leasing of space in the North Dakota financial center. The documents apply to The Bank of North Dakota, state agencies, political subdivisions, healthcare entities, propane retailers, educational institutions, and individuals or entities involved in transactions with the Bank. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
The Bank of North Dakota, state agencies, political subdivisions, healthcare entities, propane retailers, educational institutions, and individuals or entities involved in transactions with the Bank.
What does it govern?
The legal document outlines the powers and functions of The Bank of North Dakota, including its authority to engage in the business of banking, maintain a system of banking owned and operated by the state, and make, purchase, guarantee, or hold loans to various entities. It also covers the establishment and administration of loan funds for specific purposes, such as providing loans to beginning farmers, supporting higher education savings plans, and funding infrastructure projects. Additionally, the document addresses the confidentiality of Bank records, examinations and audit reports, and the leasing of space in the North Dakota financial center.
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
North Dakota