§ 6-09-37 — Sale and leasing of acquired agricultural real estate

The sale and leasing of agricultural real estate with an appraised value of ten thousand
dollars or more acquired by the Bank of North Dakota through foreclosure or deed in lieu of
foreclosure must be done in accordance with chapter 15-07 or 15-09 and policies adopted by
the industrial commission. The sale and leasing of agricultural real estate with an appraised
value of less than ten thousand dollars, acquired by the Bank of North Dakota through
foreclosure or deed in lieu of foreclosure, may be done in a manner as the Bank determines is
appropriate given the circumstances. In the case of a lease by the party holding the right of
redemption, that party has the right to purchase at any time.