North Dakota § 6-03-59 Loan limitation to one borrower or concern

North Dakota Statutes

§ 6-03-59 — Loan limitation to one borrower or concern

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

The total direct, indirect, or contingent liability of any borrower to any state banking
association shall not exceed at any time twenty-five percent of the association's tier 1 capital as
of the most recent report of condition and income. For the purpose of this section, the total
liability of a borrower includes the liabilities of any separate borrowers for which the repayment
of separate loans or extensions of credit is substantially from the same source and any credit
exposure to a borrower arising from a derivative transaction, repurchase agreement, reverse
repurchase agreement, securities lending transaction, or securities borrowing transaction
between the state banking association and the borrower.

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The total direct, indirect, or contingent liability of any borrower to any state banking
association shall not exceed at any time twenty-five percent of the association's tier 1 capital as
of the most recent report of condition and income. For the purpose of this section, the total
liability of a borrower includes the liabilities of any separate borrowers for which the repayment
of separate loans or extensions of credit is substantially from the same source and any credit
exposure to a borrower arising from a derivative transaction, repurchase agreement, reverse
repurchase agreement, securities lending transaction, or securities borrowing transaction
between the state banking association and the borrower.

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