§ 6-03-13 — Conversion to national bank - Sale of bank - Removal to new location

North Dakota § 6-03-13

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

Text

An association organized to do business in any city in this state, and which has sold or
converted its business to a national bank or to any other banking association which is continued
at the same place, may not use its charter to recommence business at another place without
first obtaining the consent of the state banking board. When a banking association which has
not so converted or sold its business is located at a place where there is not, or can reasonably
project that there will not be, sufficient business for the profitable conduct of a bank, such
association may apply to the state banking board for authority to remove its business to some
other place within the state and to change its name if desired, and upon the approval of such
application, by the board and the proper amendment of the articles of incorporation, the board
may issue authority for such removal and change. No such association, however, is permitted to
remove its business to any city unless it has the full amount of capital stock and surplus
required by this title for a new organization in such city. A banking association may apply to the

state banking board for authority to move its main office to any location currently being operated
by the banking association as a facility or to another location within the same corporate city
limits.