§ 6-13-01 — Definitions

North Dakota § 6-13-01

• Jurisdiction: North Dakota
• Title 6: Banks and Banking
• Ch. 6-13: Self-Critical Analysis Privilege of Financial Institutions

Text

In this chapter, unless the context or subject matter otherwise requires:
1. "Commissioner" means the commissioner of financial institutions.
2. "Compliance audit" means a voluntary, internal evaluation, review, assessment, audit,
or investigation for the purpose of identifying or preventing noncompliance with, or
promoting compliance with, laws, regulations, orders, or industry or professional
standards, which is conducted by or on behalf of a financial institution.
3. "Compliance self-critical analysis audit document" means a document prepared as a
result of or in connection with a financial institution's compliance audit. A compliance
self-critical analysis audit document may include a written response to the findings of a
compliance audit. A compliance self-critical analysis audit document may include, as
applicable, field notes and records of observations, workpapers, findings, opinions,
suggestions, conclusions, drafts, memoranda, drawings, photographs, exhibits,
computer-generated or electronically recorded information, telephone records, maps,
charts, graphs, and surveys, provided this supporting information is collected or
developed for the primary purpose and in the course of a compliance audit. A
compliance self-critical analysis audit document also includes:
a. A compliance audit report prepared by an auditor, who may be an employee of
the financial institution or an independent contractor, which may include the
scope of the audit, the information gained in the audit, and conclusions and
recommendations, with exhibits and appendices;
b. Memoranda and documents analyzing portions or all of the compliance audit
report and discussing potential implementation issues;
c. An implementation plan that addresses correcting past noncompliance, improving
current compliance, and preventing future noncompliance; or
d. Analytic data generated in the course of conducting the compliance audit.
4. "Financial institution" means any organization authorized to do business under state
and federal laws relating to financial institutions, including a bank, the Bank of North
Dakota, a savings bank, a trust company, a savings and loan association, or a credit
union.