Statutes, codes, and regulations
North Dakota Century Code
Title 6 - BANKS AND BANKING
Chapter 6-03 - POWERS, MANAGEMENT, AND OPERATION OF BANKS
Section 6-03-67.1 - Operation without federal deposit insurance prohibited - Liability - Penalty

N.D. Cent. Code § 6-03-67.1

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Current through 2024 Legislative Session
Section 6-03-67.1 - Operation without federal deposit insurance prohibited - Liability - Penalty

No state banking association shall, after July 1, 1978, engage in the business of banking without securing and continuing in force federal deposit insurance corporation insurance of deposits. Any officer or director of any state banking association who violates this section is guilty of a class A misdemeanor and shall be personally liable to any person aggrieved for any damages caused by the violation.

N.D.C.C. § 6-03-67.1