Statutes, codes, and regulations
North Dakota Century Code
Title 6 - BANKS AND BANKING
Chapter 6-03 - POWERS, MANAGEMENT, AND OPERATION OF BANKS
Section 6-03-59.1 - Leasing of personal property - Limitation on term and amount

N.D. Cent. Code § 6-03-59.1

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Current through 2024 Legislative Session
Section 6-03-59.1 - Leasing of personal property - Limitation on term and amount

A bank may become the owner and lessor of personal property upon the specific request of and for the use of a customer. The term of the lease may not exceed twenty years and all such leases must provide for the payment of at least annual rentals, the total of which must at least equal the cost to the bank of the personal property so leased. The total leasing obligation or rentals to a bank will be a part of the total liability limitations of any borrower as set forth in section 6-03-59.

N.D.C.C. § 6-03-59.1