N.D. Admin. Code 13-02-13-02

Current through Supplement No. 394, October, 2024

Section 13-02-13-02 - Application

An original and ten copies of the application to consolidate or merge must be filed with the board. In lieu of an original application, the state banking board will accept a copy of the application submitted to the federal deposit insurance corporation. An application must contain the following.

1. Plan of reorganization or merger;

2. Copy of notice of shareholder meeting to ratify merger or consolidation;

3. Copy of shareholders' minutes showing ratification of merger by the shareholders who own at least two-thirds of the outstanding capital stock;

4. Pro forma balance sheet of the resultant bank;

5. Any proposed changes of executive officers;

6. Description of any proposed changes to the bank's business plan, hours of operation, fees, terms for deposit and loan accounts, board of directors; and

7. Any other information determined by the commissioner or board to be necessary.

The board or commissioner may return an application whenever it is determined that the application fails to address in a prima facie manner the requirements of North Dakota Century Code section 6j03-11 and 6j03-14.1 or this section. When an application is so returned by the board or commissioner, it does not constitute a filing of an application.

N.D. Admin Code 13-02-13-02

Effective October 1, 1991.

General Authority: NDCC 6-01-04, 6-03-11

Law Implemented: NDCC 6-03-11