N.D. Cent. Code § 6-07.2-06
This is the official text of N.D. Cent. Code § 6-07.2-06, 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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6-07.2-06. Sale of assets - Assumptions of deposit liabilities by new institution
Official statutory text
6-07.2-06. Sale of assets - Assumptions of deposit liabilities by new institution
The receiver may sell all or any part of the institution's assets to one or more other state or
federally chartered depository institution or to a federal deposit insurance agency in the
receiver's corporate capacity. The receiver may also borrow from a federal deposit insurance
agency an amount necessary to facilitate the assumption of deposit liabilities by a newly
chartered or existing state or federally chartered depository institution, assigning any part or all
of the assets of the institution as security for the loan.
The receiver may sell all or any part of the institution's assets to one or more other state or
federally chartered depository institution or to a federal deposit insurance agency in the
receiver's corporate capacity. The receiver may also borrow from a federal deposit insurance
agency an amount necessary to facilitate the assumption of deposit liabilities by a newly
chartered or existing state or federally chartered depository institution, assigning any part or all
of the assets of the institution as security for the loan.
Status: in_force · Read it on the official government site
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