North Dakota Statutes
§ 15-03-05 — One-half of permanent funds to be invested in farm loans - Exception
At least one-half of the whole amount of the several permanent funds, as computed by the
commissioner of university and school lands at the end of each fiscal year, must be invested in
first mortgages on farmlands and rangelands in this state if there is a sufficient demand for
investment in farm loans. First mortgage loans on farmlands and rangelands must be made only
in accordance with the provisions of this chapter.
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Related
Lang v. Bank of North Dakota
453 N.W.2d 118 (North Dakota Supreme Court, 1990)
Nearby Sections
15
§ 15-01-01
Board - Membership - Officers§ 15-01-03
Meetings of board - Quorum§ 15-01-04
Record of meeting§ 15-02-02
Term of office - Vacancy§ 15-02-03
Commissioner - Salary§ 15-02-04
Deputy commissioner - Appointment - Oath§ 15-02-05
Powers and duties in general§ 15-02-05.1
Additional duties of commissioner§ 15-02-05.2
Administrator of abandoned property - Employment