North Dakota § 6-03-01 Powers before receipt of certificate of authority

North Dakota Statutes

§ 6-03-01 — Powers before receipt of certificate of authority

North Dakota·Title 6 Banks and Banking·Ch. 6-03 Powers, Management, and Operation of Banks

No association may transact any business, except such as is incidental and necessarily
preliminary to its organization, until it has been authorized by the secretary of state to
commence the business of banking and has received a certificate of authorization, and such
certificate has been returned by the commissioner with the commissioner's certificate that the
capital stock and required surplus have been paid in full, that federal deposit insurance
corporation insurance of deposits has been secured, and that all conditions of the law have
been strictly complied with.

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No association may transact any business, except such as is incidental and necessarily
preliminary to its organization, until it has been authorized by the secretary of state to
commence the business of banking and has received a certificate of authorization, and such
certificate has been returned by the commissioner with the commissioner's certificate that the
capital stock and required surplus have been paid in full, that federal deposit insurance
corporation insurance of deposits has been secured, and that all conditions of the law have
been strictly complied with.

North Dakota § 6-03-01 (Powers before receipt of certificate of authority) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.