Statutes, codes, and regulations
North Dakota Century Code
Title 6 - BANKS AND BANKING
Chapter 6-03 - POWERS, MANAGEMENT, AND OPERATION OF BANKS
Section 6-03-14.2 - Subsidiary depository institutions as agents

N.D. Cent. Code § 6-03-14.2

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Current through 2023 Legislative Sessions
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