Section 6-03-05 - Loans on real estate - Regulation - Limitation1. Before any real estate loan equal to or more than four hundred thousand dollars is made, an appraisal must be conducted by a licensed or certified appraiser if required by the federal Financial Reform, Recovery, and Enforcement Act of 1989 [Pub. L. 101-73; 103 Stat. 512; 12 U.S.C. 3332 et seq.].2. Before any real estate loan that does not meet the requirements of subsection 1 is made, a bank must obtain an appropriate evaluation of real property collateral for transactions if an appraisal by a licensed or certified appraiser is not obtained.3. Regardless of the value of a real estate loan, the commissioner may issue an order requiring an appraisal by a licensed or certified appraiser when necessary to address safety and soundness concerns. Any real estate loan made must conform to loan-to-value limits as established by rule by the state banking board under chapter 28-32.Amended by S.L. 2021 , ch. 76( SB 2101 ), § 5, eff. 4/13/2021.Amended by S.L. 2013 , ch. 77( HB 1085 ), § 13, eff. 8/1/2013.