Repealed by S.L. 1973, ch. 257, 82.

Except as provided in sections 6-07.2-09 and 30.1-31-20, it is unlawful for any banking association to charge any claim which it might have, or the claim of any other person, against a deposit made with the association, or to appropriate a deposit or any part of the deposit to the payment of any debt to the association, without legal process or the consent of the depositor. Any banking association that violates this section is liable to the party aggrieved for any damages caused by the violation.

No state banking association shall, after July 1, 1978, engage in the business of banking without securing and continuing in force federal deposit insurance corporation insurance of deposits. Any officer or director of any state banking association who violates this section is guilty of a class A misdemeanor and shall be personally liable to any person aggrieved for any damages caused by the violation.

Except as to any check sent to it as a special collection item, no bank may settle any check drawn on it otherwise than at par when such check is presented by or through a federal reserve bank or the Bank of North Dakota.

It is unlawful for an officer, clerk, or agent of any state banking association to certify any check, draft, or order drawn upon the association unless the person drawing the same has on deposit with the association at the time of such certification an amount of money equal to the amount specified therein, and upon such certification, the amount of such certified check, draft, or order must be immediately charged against the account of such drawer.

This legal document governs the requirements for surety deposit investments and the types of securities in which investments may be made. It applies to corporations organized under this chapter and foreign corporations engaging in similar comparable activities within the state. The document mandates that corporations must either deposit securities or pledge a certificate of deposit with an approved custodian. The deposit or pledge must be at least fifty thousand dollars or one-sixth of the par value of the corporation’s capital stock, whichever is greater, but not exceeding five hundred thousand dollars.

The security deposited with the department of financial institutions as provided in section 6-05-04 must be held by the department of financial institutions for the benefit of any person making any transfer or deposit of money or property in the state of North Dakota to or with any trust company and who suffers loss or damage because of the breach of any trust committed by such trust company. Any judgment obtained by any such person from any court of competent jurisdiction may be satisfied from the security deposited with the department of financial institutions.

This legal document governs the issuance and management of certificates of deposit by corporations. When a corporation assigns and transfers the required securities to the commissioner or a designated agent, they receive a certificate of deposit. The commissioner or agent holds these securities as collateral for the depositors and creditors of the corporation, as well as for the execution of any lawfully imposed trusts. The corporation can withdraw the securities by depositing other securities of equal value.

Repealed by S.L. 1991, ch. 82, 7.

A bank or trust company qualified to and acting as fiduciary or cofiduciary in this state may deposit trust funds awaiting investment or distribution in a bank, including, without limitation, a bank that owns or controls, or that is owned or controlled by a corporation that owns or controls, the bank or trust company.