North Dakota Statutes
§ 6-03-05 — Loans on real estate - Regulation - Limitation
North Dakota § 6-03-05
This text of North Dakota § 6-03-05 (Loans on real estate - Regulation - Limitation) 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 § 6-03-05 (2026).
Text
1.Before any real estate loan equal to or more than four hundred thousand dollars is
made, an appraisal must be conducted by a licensed or certified appraiser if required
by the federal Financial Reform, Recovery, and Enforcement Act of 1989 [Pub. L.
101-73; 103 Stat. 512; 12 U.S.C. 3332 et seq.].
2.Before any real estate loan that does not meet the requirements of subsection 1 is
made, a bank must obtain an appropriate evaluation of real property collateral for
transactions if an appraisal by a licensed or certified appraiser is not obtained.
3.Regardless of the value of a real estate loan, the commissioner may issue an order
requiring an appraisal by a licensed or certified appraiser when necessary to address
safety and soundness concerns. Any real estate loan made must conform to
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Related
§ 3332
12 U.S.C. § 3332
Nearby Sections
15
§ 6-01-01
Management and control - State department of financial institutions - Local ordinances preempted§ 6-01-01.1
Regulatory fund established - Uses - Continuing appropriation (Effective through June 30, 2029)§ 6-01-02
Definitions§ 6-01-04.2
Cease and desist orders§ 6-01-04.3
Assessment of civil money penalties§ 6-01-04.4
Prompt corrective action§ 6-01-04.5
Investigation of bank holding companies§ 6-01-06
Appointment of receivers§ 6-01-07.1
Records - ConfidentialCite This Page — Counsel Stack
Bluebook (online)
North Dakota § 6-03-05, Counsel Stack Legal Research, https://law.counselstack.com/statute/nd/6-03-05.