North Dakota Code 6-02-09 – Renewal charter
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A renewal charter must not be granted to any association until satisfactory evidence has been furnished to the state banking board that the capital and surplus of the association seeking to renew its charter conforms to the requirements of this title relating to new banking associations, that its articles of incorporation have been amended to comply with this title as necessary, and that its required capital and surplus are paid in.
Terms Used In North Dakota Code 6-02-09
- 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
- board: when used in this title includes the state banking board and the state credit union board. See North Dakota Code 6-01-03
- capital: as used in this title embraces the amount of outstanding capital notes and debentures legally issued by any banking institution. See North Dakota Code 6-03-42
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49