North Dakota Statutes
§ 21-04-09.1 — Letters of credit for public deposits - Security interest - Priority - Written agreement
North Dakota § 21-04-09.1
This text of North Dakota § 21-04-09.1 (Letters of credit for public deposits - Security interest - Priority - Written agreement) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.D. Cent. Code § 21-04-09.1 (2026).
Text
agreement.
Letters of credit issued by the Bank of North Dakota in connection with section 21-04-09
must be secured by collateral. A security interest is created and attaches when the Bank issues
a letter of credit in connection with section 21-04-09. Filing is not required for perfection of the
security interest created and it is entitled to priority as to all creditors. The board of directors of a
financial institution seeking a letter of credit from the Bank shall execute a written agreement
with the Bank, reflect approval of the agreement in the board of director's minutes and, as of the
date of execution of the agreement, keep a copy of the agreement as an official record.
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Nearby Sections
15
§ 21-01-01
Definitions§ 21-01-02
Warrant - Order of payment§ 21-01-03
Maximum amount of warrants or indebtedness - Violation of provisions - Liability - Penalty§ 21-01-04
Warrants for current expenses§ 21-01-05
Warrants for salaries and official publications - Payable one-half in cash prior to other warrants§ 21-01-07
Warrant register - By whom kept - Form§ 21-01-10
Cashbook and register open to inspection§ 21-02-01
Definitions§ 21-02-03
Certificate of county auditor§ 21-02-04
Signing false certificates - PenaltyCite This Page — Counsel Stack
Bluebook (online)
North Dakota § 21-04-09.1, Counsel Stack Legal Research, https://law.counselstack.com/statute/nd/21-04-09.1.