North Dakota § 6-03-61 Excessive loan - Validity - Penalty - Personal liability

North Dakota Statutes

§ 6-03-61 — Excessive loan - Validity - Penalty - Personal liability

North Dakota § 6-03-61

Title 6Banks and Banking

Ch. 6-03Powers, Management, and Operation of Banks

This text of North Dakota § 6-03-61 (Excessive loan - Validity - Penalty - Personal liability) 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 § 6-03-61 (2026).

Text

Whenever a state banking association allows any person, copartnership, or corporation to
become indebted to it, directly or indirectly, in excess of the amount, exclusive of interest,
permitted by this title, the officer, director, or employee thereof willfully permitting or approving
such loan is guilty of a class B misdemeanor, and in addition thereto, is liable personally to the
association for the amount of such loan in excess of the statutory limit. Unauthorized loans,
however, are not invalid.

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Whenever a state banking association allows any person, copartnership, or corporation to
become indebted to it, directly or indirectly, in excess of the amount, exclusive of interest,
permitted by this title, the officer, director, or employee thereof willfully permitting or approving
such loan is guilty of a class B misdemeanor, and in addition thereto, is liable personally to the
association for the amount of such loan in excess of the statutory limit. Unauthorized loans,
however, are not invalid.