N.D. Cent. Code § 6-07.1-17
This is the official text of N.D. Cent. Code § 6-07.1-17, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
6-07.1-17. Disposal of property and settling claims
Official statutory text
6-07.1-17. Disposal of property and settling claims
In the course of liquidating a state trust company, the receiver on order of the court entered
with or without hearing may sell all or part of the real and personal property of the state trust
company; borrow money and pledge all or part of the assets of the state trust company to
secure the debt created, except that the receiver may not be held personally liable to repay
borrowed funds; compromise or compound a doubtful or uncollectible debt or claim owed by or
owing to the state trust company; and enter another agreement on behalf of the state trust
company that the receiver considers necessary or proper to the management, conservation, or
liquidation of its assets.
In the course of liquidating a state trust company, the receiver on order of the court entered
with or without hearing may sell all or part of the real and personal property of the state trust
company; borrow money and pledge all or part of the assets of the state trust company to
secure the debt created, except that the receiver may not be held personally liable to repay
borrowed funds; compromise or compound a doubtful or uncollectible debt or claim owed by or
owing to the state trust company; and enter another agreement on behalf of the state trust
company that the receiver considers necessary or proper to the management, conservation, or
liquidation of its assets.
Status: in_force · Read it on the official government site
Need a lawyer in North Dakota?
Find a North Dakota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.