N.D. Cent. Code § 6-08.3-07
This is the official text of N.D. Cent. Code § 6-08.3-07, 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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6-08.3-07. Divestiture - Cease and desist
Official statutory text
6-08.3-07. Divestiture - Cease and desist
1. If a reciprocating state bank holding company makes an acquisition other than in full
compliance with the requirements and procedures of this chapter, the board may, by
order:
a. Immediately require the reciprocating state bank holding company to divest itself
of its direct or indirect ownership or control of any bank located in this state; or
b. Require the reciprocating state bank holding company to cease and desist the
violations by a certain date.
2. The order is subject to the procedures applicable to cease and desist proceedings
under section 6-01-04.2 and any applicable rules.
1. If a reciprocating state bank holding company makes an acquisition other than in full
compliance with the requirements and procedures of this chapter, the board may, by
order:
a. Immediately require the reciprocating state bank holding company to divest itself
of its direct or indirect ownership or control of any bank located in this state; or
b. Require the reciprocating state bank holding company to cease and desist the
violations by a certain date.
2. The order is subject to the procedures applicable to cease and desist proceedings
under section 6-01-04.2 and any applicable rules.
Status: in_force · Read it on the official government site
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