N.D. Cent. Code § 10-30.6-08
This is the official text of N.D. Cent. Code § 10-30.6-08, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
10-30.6-08. Deposit of funds - Loans
Official statutory text
10-30.6-08. Deposit of funds - Loans
The corporation may not deposit any of its funds in any financial institution unless the
institution has been designated as a depository by a vote of a majority of the directors, exclusive
of any director who is an officer or director of the depository so designated. The corporation may
not receive money on deposit. No loans may be made directly or indirectly to any officer of the
corporation or to any firm of which the officer is a member or officer.
The corporation may not deposit any of its funds in any financial institution unless the
institution has been designated as a depository by a vote of a majority of the directors, exclusive
of any director who is an officer or director of the depository so designated. The corporation may
not receive money on deposit. No loans may be made directly or indirectly to any officer of the
corporation or to any firm of which the officer is a member or officer.
Status: in_force · Read it on the official government site
Need a lawyer in North Dakota?
Find a North Dakota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.