N.D. Cent. Code § 6-01-06
This is the official text of N.D. Cent. Code § 6-01-06, 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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6-01-06. Appointment of receivers
Official statutory text
6-01-06. Appointment of receivers
The state banking board and state credit union board, except as otherwise provided in this
title, have authority and power to appoint, by their own order, receivers for insolvent financial
institutions and credit unions under their regulatory supervision. Such receivers have the same
power and authority, and their acts have the same validity, as if they had been appointed under
and by the direction of a district court. Nothing herein contained may be construed so as to take
away from the courts the power to appoint receivers of such financial institutions and credit
unions at any stage of the proceedings and thus to terminate the receivership ordered by the
board.
The state banking board and state credit union board, except as otherwise provided in this
title, have authority and power to appoint, by their own order, receivers for insolvent financial
institutions and credit unions under their regulatory supervision. Such receivers have the same
power and authority, and their acts have the same validity, as if they had been appointed under
and by the direction of a district court. Nothing herein contained may be construed so as to take
away from the courts the power to appoint receivers of such financial institutions and credit
unions at any stage of the proceedings and thus to terminate the receivership ordered by the
board.
Status: in_force · Read it on the official government site
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