N.D. Cent. Code § 6-01-09

6-01-09. Supervision and examination by commissioner of financial institutions

The commissioner shall exercise a constant supervision over the business affairs of all

financial corporations, financial institutions, and credit unions, including all out-of-state branches

of financial corporations, financial institutions, and credit unions. Either the commissioner or one

or more examiners shall examine each financial institution to assess the affairs of the institution

and ascertain the institution's financial condition. The commissioner shall inspect and verify the

assets and liabilities of the institution and branches to ascertain with reasonable certainty that

the value of the assets and the amounts of the liabilities are correctly carried on its books. The

commissioner shall examine the validity of mortgages held by savings institutions and shall see

that all of the mortgages are properly recorded. The commissioner shall investigate the method

of operation and conduct of the corporations and institutions and their systems of accounting to

ascertain whether the methods conform to the law and sound banking usage and principles.

The commissioner shall inquire into and report any infringement of the laws governing those

corporations and institutions, and for that purpose the commissioner may examine the officers,

agents, and employees of the corporations and institutions and all persons doing business

therewith. The commissioner may examine, or cause to be examined, or review the books and

records of any subsidiary corporation of a bank or credit union service organization of a credit

union under the commissioner's supervision and may require the bank to provide information on

the holding company that owns the bank. The commissioner may also examine, or cause to be

examined, or review the books and records of any technology service provider that provides

services to financial corporations, credit unions, and financial institutions under the

commissioner's supervision, to evaluate that entity's risk management systems and controls and

compliance with applicable laws that affect such services provided to financial corporations,

credit unions, and financial institutions. The commissioner shall report the condition of the

corporations and institutions, together with the commissioner's recommendations or

suggestions in connection therewith, to the state banking board, state credit union board, or

both, and the boards may take such action as the exigencies may demand.