N.D. Cent. Code § 6-09.9-03
This is the official text of N.D. Cent. Code § 6-09.9-03, 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.
6-09.9-03. Operating loans - Participation by the Bank of North Dakota
Official statutory text
6-09.9-03. Operating loans - Participation by the Bank of North Dakota
1. The Bank of North Dakota shall make available an appropriate amount of funds to
purchase participation interests in operating loans to farmers. Interest charged on a
participation interest purchased by the Bank under this section may not exceed one
percent less than the Bank's base rate, as it may be established from time to time. The
Bank may charge necessary and reasonable fees as determined by the industrial
commission.
2. The amount of a participation interest purchased by the Bank under this section may
not be greater than sixty-five percent of the loan amount or an amount determined by
the Bank, whichever is less. The term of any participation interest purchased under
this section may not exceed one year.
3. The Bank and the originating financial institution shall determine whether a borrower
must obtain insurance on property pledged as security for a loan under this chapter.
1. The Bank of North Dakota shall make available an appropriate amount of funds to
purchase participation interests in operating loans to farmers. Interest charged on a
participation interest purchased by the Bank under this section may not exceed one
percent less than the Bank's base rate, as it may be established from time to time. The
Bank may charge necessary and reasonable fees as determined by the industrial
commission.
2. The amount of a participation interest purchased by the Bank under this section may
not be greater than sixty-five percent of the loan amount or an amount determined by
the Bank, whichever is less. The term of any participation interest purchased under
this section may not exceed one year.
3. The Bank and the originating financial institution shall determine whether a borrower
must obtain insurance on property pledged as security for a loan under this chapter.
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.