North Dakota Code 6-09.11-07 – Insurance requirements
Current as of: 2023 | Check for updates
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The Bank of North Dakota and the originating financial institution shall determine whether a borrower must obtain insurance on property pledged as security for a loan under this chapter.
Terms Used In North Dakota Code 6-09.11-07
- 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
- Financial institution: means any bank, industrial loan company, or savings and loan association organized under the laws of this state or of the United States. See North Dakota Code 6-01-02
- Property: includes property, real and personal. See North Dakota Code 1-01-49