North Dakota § 54-06-08.1 Clearing accounts and cash balances maintained by state agencies

North Dakota Statutes

§ 54-06-08.1 — Clearing accounts and cash balances maintained by state agencies

North Dakota § 54-06-08.1

Title 54State Government

Ch. 54-06General Provisions

This text of North Dakota § 54-06-08.1 (Clearing accounts and cash balances maintained by state agencies) 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 § 54-06-08.1 (2026).

Text

All departments, institutions, or agencies of the state may maintain, subject to approval of
the state auditor and the state treasurer, in the Bank of North Dakota, or, if the state entity is
located outside Bismarck, in another state or federally chartered financial institution, an account
for clearing or cashing of checks and making change. To accommodate peak processing
periods, the balance in an account at a financial institution other than the Bank of North Dakota
may exceed the maximum amount of federal insurance coverage available if the excess in the
account is secured by another form of security or security deposit; however, the balance may
exceed the maximum amount of federal insurance coverage available only for the time it takes
to clear the checks. Any check written on the acc

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All departments, institutions, or agencies of the state may maintain, subject to approval of
the state auditor and the state treasurer, in the Bank of North Dakota, or, if the state entity is
located outside Bismarck, in another state or federally chartered financial institution, an account
for clearing or cashing of checks and making change. To accommodate peak processing
periods, the balance in an account at a financial institution other than the Bank of North Dakota
may exceed the maximum amount of federal insurance coverage available if the excess in the
account is secured by another form of security or security deposit; however, the balance may
exceed the maximum amount of federal insurance coverage available only for the time it takes
to clear the checks. Any check written on the account may be used only to transfer funds to the
Bank of North Dakota or the state treasurer. A financial institution shall report to the state auditor
in writing within thirty days after opening or closing an account for a state entity under this
section. Subject to the approval of the state auditor, a state entity may maintain a cash balance
reasonable for the conduct of business at the location of the entity.