§ 10-30-02 — Purposes - Loans from Bank of North Dakota

North Dakota § 10-30-02

• Jurisdiction: North Dakota
• Title 10: Corporations
• Ch. 10-30: Development Corporations

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The purpose of the corporation is to assist, encourage, and through the cooperative efforts
of the institutions and corporations which from time to time become members thereof, develop
and advance the business prosperity and economic welfare of this state; to encourage and
assist in the location of new business and industry in this state and to rehabilitate existing
business and industry; to stimulate and assist in the expansion of all kinds of business activity
which will tend to promote the business development and maintain the economic stability of this
state and provide maximum opportunities for employment; to cooperate and act in conjunction
with other organizations, public or private, the objects of which are the promotion and
advancement of industrial, commercial, agricultural, and recreational developments in this state;
and to furnish money and credit to approved and deserving applicants for the promotion,
development, and conduct of all kinds of business activity in this state, thereby establishing a
source of credit not otherwise readily available therefor. In furtherance of these purposes, the
Bank of North Dakota is authorized to make loans to the corporation.