N.D. Cent. Code § 6-03-14.2

Current through 2024 Legislative Session

Section 6-03-14.2 - Subsidiary depository institutions as agents

Any bank subsidiary of a bank holding company may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and any other obligations as an agent for a depository institution affiliate, subject to any requirements established by the board by rule. Notwithstanding any other law, a bank acting as an agent under this section may not be considered to be a branch of the affiliate. However, a depository institution may not conduct any activity as an agent that it is prohibited from conducting as a principal under any federal or state law.

N.D.C.C. § 6-03-14.2