N.D. Admin. Code 13-02-15-04

Current through Supplement No. 394, October, 2024

Section 13-02-15-04 - Permissible activities

Loan production offices are limited to the following activities:

1. Soliciting loans on behalf of a bank.

2. Assembling credit information.

3. Conducting property inspections and appraisals.

4. Securing title information.

5. Preparing applications for loans, including making credit decisions provided money is not lent at the loan production office.

6. Any other activity which does not constitute a core banking activity as determined by the state banking board.

N.D. Admin Code 13-02-15-04

Effective May 1, 1993; amended effective July 1, 2009.

General Authority: NDCC 6-01-04, 6-03-02

Law Implemented: NDCC 6-03-38