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Chapter 6-03

Powers, Management, and Operation of Banks
Section Section Name
6-03-01 Powers before receipt of certificate of authority
6-03-02 Powers
6-03-02.1 Indemnification by banking association
6-03-02.2 Issuance of certificates of deposit ‑ Penalty
6-03-02.3 Parity for state and national banks
6-03-03 Directors ‑ Qualifying shares ‑ Issue and transfer
6-03-04 Director's oath of office ‑ Filing
6-03-04.1 Standard of conduct for directors of financial institutions
6-03-05 Loans on real estate ‑ Regulation ‑ Limitation
6-03-05.1 Additional optional loans and advances
6-03-05.2 Agricultural loan amortization and deferral
6-03-06 Sale of real estate loans
6-03-07 Investment in banking facility, furniture, and fixtures ‑ Limitation
6-03-08 Powers as to other real estate
6-03-09 Holding of real estate ‑ Limitation
6-03-10 Violation of powers ‑ Penalty
6-03-11 Conversion, consolidation, or merger
6-03-12 Transfer of assets on consolidation or merger
6-03-13 Conversion to national bank ‑ Sale of bank ‑ Removal to new location
6-03-13.1 Separate facilities authorized
6-03-13.2 Further limitations upon facility
6-03-13.3 Facts considered for approval
6-03-13.4 Effect of authority
6-03-13.5 National bank, federal savings association, or state savings and loan association conversion to state bank
6-03-13.6 Branch conversions
6-03-14 Paying and receiving stations authorized
6-03-14.1 Maintenance of facilities of merged banks
6-03-14.2 Subsidiary depository institutions as agents
6-03-15 Application to state banking board to establish stations
6-03-15.1 Temporary relocation of bank operations
6-03-15.2 Operations during epidemic or emergency ‑ Notice to commissioner
6-03-16 Investigation and procedure on application to establish station
6-03-17 Transaction of business at and regulation of station
6-03-18 When station must be discontinued ‑ Revocation of permit
6-03-19 Cancellation of station permit on application to board
6-03-20 Impairment of capital ‑ Notice to commissioner ‑ Penalty
6-03-21 Impairment of capital ‑ Dividends stopped ‑ Action by board ‑ Restoration
6-03-22 Impairment of capital ‑ Stock assessments ‑ Notice and limitation
6-03-23 Capital stock may be increased
6-03-24 Capital stock may be reduced
6-03-25 Approval of increase or reduction by stockholders ‑ Notice of stockholders' meeting
6-03-26 Meeting not required when all stockholders agree in writing to increase or reduction
6-03-27 List of shareholders to be kept and filed
6-03-28 Shares ‑ Value and transfer ‑ Shareholder's obligation
6-03-29 Responsibility of shareholders ‑ Double liability
6-03-29.1 Responsibility of shareholders
6-03-30 Shareholder's liability ‑ Limitation ‑ Publication of notice
6-03-31 Delinquent stock ‑ Sale ‑ Notice
6-03-32 When no bids for purchase of delinquent stock
6-03-33 Loans on shares prohibited ‑ Disposal of stock acquired
6-03-34 Surplus fund required ‑ Dividends only out of earnings not required for surplus
6-03-35 Surplus fund exempt from taxation
6-03-36 Capital must be maintained ‑ Dividends prohibited under certain conditions
6-03-37 Reserve funds
6-03-37.1 Bank loans of excess reserves
6-03-38 Assets not to be used in other business ‑ Exceptions ‑ Penalty
6-03-39 Investment in federal reserve bank stock authorized
6-03-40 Investment in capital stock of certain agricultural credit corporations authorized ‑ Limitations
6-03-40.1 Liquidation of investments in agricultural credit corporations ‑ Penalty
6-03-41 Issuance of capital notes or debentures ‑ Not subject to double liability
6-03-42 Capital notes or debentures included in capital ‑ Retirement
6-03-43 Preferred stock authorized ‑ Notice to and consent of stockholders
6-03-44 Preferred stock included in capital ‑ Reduction of common stock
6-03-45 Preferred stock ‑ Rights of holders ‑ Nonassessable
6-03-46 Exchange of preferred stock for capital notes or debentures
6-03-47 Investment in loans and obligations secured by federal or state government
6-03-47.1 Investment in loans secured by federal or state government
6-03-47.2 Investments of state banks
6-03-47.3 Bank investment in investment company shares
6-03-47.4 Bank investment in federal agricultural mortgage corporation stock
6-03-48 Investment in notes or bonds secured by insured mortgage ‑ Debentures of federal housing administrator authorized
6-03-49 Federal housing administrator ‑ Insured bonds and notes ‑ Debentures ‑ Security for deposits
6-03-49.1 Bank investment in service corporation ‑ Service corporation services and activities
6-03-50 Exceptions from restrictive provisions
6-03-51 Borrowing, normal and emergency ‑ Limitations
6-03-52 Borrowing and rediscounting ‑ Authorization by directors
6-03-53 Borrowing and rediscounting ‑ Report required
6-03-54 Pledge ‑ Ratio to assets
6-03-54.1 Pledges of bank securities to secure repayment of deposits by a federally recognized Indian tribe
6-03-55 Powers of pledgee of bank assets
6-03-56 Unlawful borrowing, rediscounting, endorsing, pledging by officers, employees, and accessories ‑ Penalty
6-03-57 Foreclosure of pledge contracts
6-03-58 Unlawful rediscounts, borrowings, and pledgings
6-03-59 Loan limitation to one borrower or concern
6-03-59.1 Leasing of personal property ‑ Limitation on term and amount
6-03-59.2 Lease financing of public facilities
6-03-60 Loans to and purchases from directors, executive officers, and principal shareholders ‑ Restrictions ‑ Conditions ‑ Penalty ‑ Civil liability
6-03-61 Excessive loan ‑ Validity ‑ Penalty ‑ Personal liability
6-03-62 Interest on loans ‑ Rate
6-03-63 Interest on deposits ‑ Rates payable ‑ Penalty
6-03-64 Payment of deposits made by fiduciaries, officers, minors, and associations
6-03-65 Deposit in trust ‑ To whom paid
6-03-66 Deposit in two or more names ‑ To whom paid
6-03-67 Appropriation of deposits unlawful ‑ Exception ‑ Liability therefor
6-03-67.1 Operation without federal deposit insurance prohibited ‑ Liability ‑ Penalty
6-03-68 Collection of negotiable instruments by bank ‑ Liability for negligence
6-03-68.1 Settlement of check presented by or through federal reserve bank or Bank of North Dakota
6-03-69 Report of examining committee
6-03-70 Reports ‑ Regular and special ‑ Publication ‑ Penalty
6-03-71 Bonds of officers and employees
6-03-72 Certification of checks, drafts, and orders ‑ Penalty
6-03-73 Deferred posting authorized
6-03-74 Definitions
6-03-75 Varied by agreement
6-03-76 Records search reimbursement

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