N.D. Cent. Code § 6-05-04

6-05-04. Surety deposit investments required - Securities in which investment may be

made.

Every corporation organized under this chapter and every foreign corporation before

engaging in similar comparable activities within this state shall either deposit with any federal

reserve bank, the Bank of North Dakota, or any other custodian approved by the commissioner,

securities as provided by this section or pledge a certificate of deposit as provided by this

section. The deposit or pledge may not be less than fifty thousand dollars or less than one-sixth

of the par value of the capital stock of the corporation, whichever is the greater. However, a

corporation is not required to deposit or pledge more than five hundred thousand dollars. The

deposit certificate or pledge agreement must authorize the commissioner to cause the deposit,

in part or in whole, to be transferred to the commissioner upon the commissioner's demand. An

original of the deposit certificate or pledge must be furnished to the commissioner. The deposit

or pledge must be:

1. Bonds of the United States or of this state;

2. Bonds of other states which have the approval of the commissioner of financial

institutions;

3. Bonds or obligations of any township, school district, city, or county within this state,

whose total bonded indebtedness does not exceed five percent of the then assessed

valuation thereof;

4. Bonds or promissory notes secured by first mortgages or deeds of trust upon

unencumbered real estate situated within the state of North Dakota worth two and

one-half times the amount of the obligation so secured;

5. Obligations issued, assumed, or guaranteed by the international bank for

reconstruction and development or the African development bank;

6. United States treasury bills or notes of an agency thereof;

7. Certificates of deposit fully insured by the federal deposit insurance corporation from

banks located within this state; or

8. Certificates of deposit issued by the Bank of North Dakota.