N.D. Admin. Code 13-02-22-05

Current through Supplement No. 394, October, 2024

Section 13-02-22-05 - Deposit production office application

A deposit production office may not be established or operated by a state-chartered bank until after the bank has submitted a written application to the commissioner or board and received a certificate of authority to operate such office. The application must describe with regard to the deposit production office the following:

1. The location.

2. A general description of the area where located, e.g., shopping center, supermarket, department store, etc.

3. The proposed activity for the location.

4. Whether the location will be staffed and, if so, the nature of employee compensation, whether an employee of the bank or a fee and commission basis.

5. Description as to the types of deposits to be solicited.

6. Any other information the commissioner determines necessary.

N.D. Admin Code 13-02-22-05

Effective July 1, 2009.

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

Law Implemented: NDCC 6-03-38