§ 26.1-50-04 — Loan administration

An application for a loan from the fund must contain the information prescribed by the
governing board. Except as provided in this section, information contained in applications for
loans from the fund is confidential. The Bank of North Dakota shall review each loan application,
report to the governing board whether the applicant represents a primary sector business
project, and make a recommendation to the governing board to either approve or disapprove
the loan application. The Bank of North Dakota shall administer all loans issued by the fund and
shall receive from the fund a service fee of twenty-five basis points on all loans in place. The
insurance commissioner may examine the fund and activities of insurers in connection with the
fund to assure compliance with this title. The fund shall pay for the costs of an examination and
no credit may be allowed any insurer for payment of examination costs as otherwise provided
under section 26.1-03-17.