N.D. Cent. Code § 6-07.1-15
This is the official text of N.D. Cent. Code § 6-07.1-15, 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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6-07.1-15. Preferences
Official statutory text
6-07.1-15. Preferences
Any transfer of or lien on the property or assets of a state trust company is voidable by the
receiver if the transfer or lien is made or created after four months before the date the state trust
company is closed for liquidation or one year before the date the state trust company is closed
for liquidation if the receiving creditor was at the time an affiliate, officer, director, manager,
principal shareholder, or participant of the state trust company or an affiliate of the state trust
company, or was made or created with the intent of giving to a creditor, enabling the creditor to
obtain a greater percentage of the claimant's debt that is given or obtained by another claimant
of the same class.
Any transfer of or lien on the property or assets of a state trust company is voidable by the
receiver if the transfer or lien is made or created after four months before the date the state trust
company is closed for liquidation or one year before the date the state trust company is closed
for liquidation if the receiving creditor was at the time an affiliate, officer, director, manager,
principal shareholder, or participant of the state trust company or an affiliate of the state trust
company, or was made or created with the intent of giving to a creditor, enabling the creditor to
obtain a greater percentage of the claimant's debt that is given or obtained by another claimant
of the same class.
Status: in_force · Read it on the official government site
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