North Dakota § 10-30-11 Deposit of funds - Loans

North Dakota Statutes

§ 10-30-11 — Deposit of funds - Loans

North Dakota·Title 10 Corporations·Ch. 10-30 Development Corporations

The corporation shall not deposit any of its funds in any banking institution unless such
institution has been designated as a depository by a vote of a majority of the directors, exclusive
of any director who is an officer or director of the depository so designated. The corporation
shall not receive money on deposit. No loans shall be made directly or indirectly to any officer of
the corporation or to any firm of which such officer is a member or officer.

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The corporation shall not deposit any of its funds in any banking institution unless such
institution has been designated as a depository by a vote of a majority of the directors, exclusive
of any director who is an officer or director of the depository so designated. The corporation
shall not receive money on deposit. No loans shall be made directly or indirectly to any officer of
the corporation or to any firm of which such officer is a member or officer.

North Dakota § 10-30-11 (Deposit of funds - Loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.