North Dakota Code 6-03-15.1 – Temporary relocation of bank operations
In the event of an emergency or other temporary relocation, a bank shall notify the commissioner to relocate its main banking house or facility until the former location is repaired to allow bank operations to resume. No notice or public hearing need be held to act upon the temporary relocation request. The bank shall give the commissioner notice of the bank’s decision to relocate promptly and in any case within three days in the event of an emergency, and at least thirty days prior for other temporary relocations. The notice must describe the bank’s actions and the expected duration of the bank’s relocation. Unless extended by the commissioner, a bank’s authority to change the bank’s location under this section may not exceed sixty days. Notice of the bank’s intention to temporarily relocate must be provided to customers at least ten days before the relocation.
Terms Used In North Dakota Code 6-03-15.1
- Bank: means any national bank, national banking association, corporation, state bank, state banking association, or savings bank, whether organized under the laws of this state or of the United States, engaged in the business of banking. See North Dakota Code 6-01-02
- Banking: means the business of receiving deposits, making loans, discounting commercial paper, issuing drafts, traveler's checks, and similar instruments, handling and making collections, cashing checks and drafts, and buying and selling exchange. See North Dakota Code 6-01-02
- Commissioner: means the commissioner of financial institutions. See North Dakota Code 6-01-02