N.D. Cent. Code § 10-30.6-01
This is the official text of N.D. Cent. Code § 10-30.6-01, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-30.6-01. Organization
Official statutory text
10-30.6-01. Organization
1. To the extent permitted by federal law, any one or more banks may form a community
development corporation by complying with the conditions prescribed in this chapter
and subscribing and acknowledging a certificate specifying:
a. The name, the general nature of its business, and the principal place of
transacting its business. The name must distinguish the corporation from all other
corporations authorized to do business in the state and must contain the words
"community development corporation".
b. The period of its duration, which is perpetual.
c. The name and principal business address of each incorporator.
d. The names and addresses of those composing its board until the first election.
e. The highest amount of indebtedness or liability to which the corporation may be
subject.
2. The certificate may contain any other lawful provision defining the powers and
business of the corporation, its officers, directors, members, and stockholders.
1. To the extent permitted by federal law, any one or more banks may form a community
development corporation by complying with the conditions prescribed in this chapter
and subscribing and acknowledging a certificate specifying:
a. The name, the general nature of its business, and the principal place of
transacting its business. The name must distinguish the corporation from all other
corporations authorized to do business in the state and must contain the words
"community development corporation".
b. The period of its duration, which is perpetual.
c. The name and principal business address of each incorporator.
d. The names and addresses of those composing its board until the first election.
e. The highest amount of indebtedness or liability to which the corporation may be
subject.
2. The certificate may contain any other lawful provision defining the powers and
business of the corporation, its officers, directors, members, and stockholders.
Status: in_force · Read it on the official government site
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