North Dakota § 6-05-29 Duty of commissioner when examination discloses violation of law

North Dakota Statutes

§ 6-05-29 — Duty of commissioner when examination discloses violation of law

North Dakota § 6-05-29

Title 6Banks and Banking

Ch. 6-05Annuity, Safe Deposit, Surety, and Trust Companies

This text of North Dakota § 6-05-29 (Duty of commissioner when examination discloses violation of law) 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 § 6-05-29 (2026).

Text

If it appears to the commissioner from any examination made by the commissioner that any
such corporation has committed a violation of the law or that it is conducting its business in an
unsafe or unauthorized manner, or that the deposit made by it with the department of financial
institutions, as hereinbefore provided, is insufficient to protect the interests of all concerned, the
commissioner, by an order addressed to such corporation, shall direct the discontinuance of
such illegal or unsafe practice, and order it to conform with the requirements of the law or to
make a further deposit with the department of financial institutions in an amount sufficient to
insure the safety of its trusts, deposits, and liabilities. Whenever any corporation refuses to
comply with any such order, or when

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If it appears to the commissioner from any examination made by the commissioner that any
such corporation has committed a violation of the law or that it is conducting its business in an
unsafe or unauthorized manner, or that the deposit made by it with the department of financial
institutions, as hereinbefore provided, is insufficient to protect the interests of all concerned, the
commissioner, by an order addressed to such corporation, shall direct the discontinuance of
such illegal or unsafe practice, and order it to conform with the requirements of the law or to
make a further deposit with the department of financial institutions in an amount sufficient to
insure the safety of its trusts, deposits, and liabilities. Whenever any corporation refuses to
comply with any such order, or whenever it appears to the commissioner that it is unsafe or
inexpedient for any such corporation to continue to transact business, the commissioner shall
communicate the facts to the attorney general, who thereupon shall institute such proceedings
against any such corporation as the case may require.