N.D. Cent. Code § 6-05-04.1
This is the official text of N.D. Cent. Code § 6-05-04.1, 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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6-05-04.1. Right of action against deposit
Official statutory text
6-05-04.1. Right of action against deposit
The security deposited with the department of financial institutions as provided in section
6-05-04 must be held by the department of financial institutions for the benefit of any person
making any transfer or deposit of money or property in the state of North Dakota to or with any
trust company and who suffers loss or damage because of the breach of any trust committed by
such trust company. Any judgment obtained by any such person from any court of competent
jurisdiction may be satisfied from the security deposited with the department of financial
institutions.
The security deposited with the department of financial institutions as provided in section
6-05-04 must be held by the department of financial institutions for the benefit of any person
making any transfer or deposit of money or property in the state of North Dakota to or with any
trust company and who suffers loss or damage because of the breach of any trust committed by
such trust company. Any judgment obtained by any such person from any court of competent
jurisdiction may be satisfied from the security deposited with the department of financial
institutions.
Status: in_force · Read it on the official government site
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