N.D. Cent. Code § 6-03-51
This is the official text of N.D. Cent. Code § 6-03-51, 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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6-03-51. Borrowing, normal and emergency - Limitations
Official statutory text
6-03-51. Borrowing, normal and emergency - Limitations
Any state banking association has power to borrow money subject to the limitations of this
chapter. Money borrowed from correspondent banks must be evidenced by the promissory note
or notes of the borrowing association, and no such association may issue its certificate of
deposit for money so borrowed or otherwise conceal the true nature of the transaction. Nothing
herein affects the right of a state banking association to receive bona fide deposits from banks
or other persons.
Any state banking association has power to borrow money subject to the limitations of this
chapter. Money borrowed from correspondent banks must be evidenced by the promissory note
or notes of the borrowing association, and no such association may issue its certificate of
deposit for money so borrowed or otherwise conceal the true nature of the transaction. Nothing
herein affects the right of a state banking association to receive bona fide deposits from banks
or other persons.
Status: in_force · Read it on the official government site
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