N.D. Cent. Code § 6-08.3-03.1
This is the official text of N.D. Cent. Code § 6-08.3-03.1, 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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6-08.3-03.1. Deposit limitation
Official statutory text
6-08.3-03.1. Deposit limitation
1. A depository institution or depository institution holding company may not consolidate
or merge with, or acquire a North Dakota depository institution or a depository
institution holding company that controls a North Dakota depository institution if the
federal reserve, comptroller of the currency, federal deposit insurance corporation, or
office of thrift supervision, as the case may be, determines that the depository
institution or a depository institution holding company will control more than twenty-five
percent of North Dakota deposits.
2. The federal reserve, comptroller of the currency, or federal deposit insurance
corporation, as the case may be, may approve an acquisition or merger under this title
without regard to the limitations of this section, if the transaction involves an
acquisition or merger:
a. Of one or more depository institutions in default or in danger of default; or
b. With respect to which assistance is provided under section 13(c) of the Federal
Deposit Insurance Act [12 U.S.C. 1823(c)].
1. A depository institution or depository institution holding company may not consolidate
or merge with, or acquire a North Dakota depository institution or a depository
institution holding company that controls a North Dakota depository institution if the
federal reserve, comptroller of the currency, federal deposit insurance corporation, or
office of thrift supervision, as the case may be, determines that the depository
institution or a depository institution holding company will control more than twenty-five
percent of North Dakota deposits.
2. The federal reserve, comptroller of the currency, or federal deposit insurance
corporation, as the case may be, may approve an acquisition or merger under this title
without regard to the limitations of this section, if the transaction involves an
acquisition or merger:
a. Of one or more depository institutions in default or in danger of default; or
b. With respect to which assistance is provided under section 13(c) of the Federal
Deposit Insurance Act [12 U.S.C. 1823(c)].
Status: in_force · Read it on the official government site
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