§ 6-03-01 Powers before receipt of certificate of authority
§ 6-03-02 Powers
§ 6-03-02.1 Indemnification by banking association
§ 6-03-02.2 Issuance of certificates of deposit – Penalty
§ 6-03-02.3 Parity for state and national banks
§ 6-03-04 Director’s oath of office – Filing
§ 6-03-04.1 Standard of conduct for directors of financial institutions
§ 6-03-05 Loans on real estate – Regulation – Limitation
§ 6-03-06 Sale of real estate loans
§ 6-03-07 Investment in banking facility, furniture, and fixtures – Limitation
§ 6-03-08 Powers as to other real estate
§ 6-03-09 Holding of real estate – Limitation
§ 6-03-10 Violation of powers – Penalty
§ 6-03-11 Conversion, consolidation, or merger
§ 6-03-12 Transfer of assets on consolidation or merger
§ 6-03-13 Conversion to national bank – Sale of bank – Removal to new location
§ 6-03-13.1 Separate facilities authorized
§ 6-03-13.3 Facts considered for approval
§ 6-03-13.4 Effect of authority
§ 6-03-13.5 National bank, federal savings association, or state savings and loan association conversion to state bank
§ 6-03-13.6 Branch conversions
§ 6-03-14.2 Subsidiary depository institutions as agents
§ 6-03-15.1 Temporary relocation of bank operations
§ 6-03-15.2 Operations during epidemic or emergency – Notice to commissioner
§ 6-03-20 Impairment of capital – Notice to commissioner – Penalty
§ 6-03-21 Impairment of capital – Dividends stopped – Action by board – Restoration
§ 6-03-22 Impairment of capital – Stock assessments – Notice and limitation
§ 6-03-23 Capital stock may be increased
§ 6-03-24 Capital stock may be reduced
§ 6-03-25 Approval of increase or reduction by stockholders – Notice of stockholders’ meeting
§ 6-03-26 Meeting not required when all stockholders agree in writing to increase or reduction
§ 6-03-27 List of shareholders to be kept and filed
§ 6-03-28 Shares – Value and transfer – Shareholder’s obligation
§ 6-03-31 Delinquent stock – Sale – Notice
§ 6-03-32 When no bids for purchase of delinquent stock
§ 6-03-33 Loans on shares prohibited – Disposal of stock acquired
§ 6-03-34 Surplus fund required – Dividends only out of earnings not required for surplus
§ 6-03-35 Surplus fund exempt from taxation
§ 6-03-36 Capital must be maintained – Dividends prohibited under certain conditions
§ 6-03-37 Reserve funds
§ 6-03-37.1 Bank loans of excess reserves
§ 6-03-38 Assets not to be used in other business – Exceptions – Penalty
§ 6-03-39 Investment in federal reserve bank stock authorized
§ 6-03-41 Issuance of capital notes or debentures – Not subject to double liability
§ 6-03-42 Capital notes or debentures included in capital – Retirement
§ 6-03-43 Preferred stock authorized – Notice to and consent of stockholders
§ 6-03-44 Preferred stock included in capital – Reduction of common stock
§ 6-03-45 Preferred stock – Rights of holders – Nonassessable
§ 6-03-46 Exchange of preferred stock for capital notes or debentures
§ 6-03-47 Investment in loans and obligations secured by federal or state government
§ 6-03-47.2 Investments of state banks
§ 6-03-47.3 Bank investment in investment company shares
§ 6-03-47.4 Bank investment in federal agricultural mortgage corporation stock
§ 6-03-48 Investment in notes or bonds secured by insured mortgage – Debentures of federal housing administrator authorized
§ 6-03-49 Federal housing administrator – Insured bonds and notes – Debentures – Security for deposits
§ 6-03-49.1 Bank investment in service corporation – Service corporation services and activities
§ 6-03-50 Exceptions from restrictive provisions
§ 6-03-51 Borrowing, normal and emergency – Limitations
§ 6-03-52 Borrowing and rediscounting – Authorization by directors
§ 6-03-53 Borrowing and rediscounting – Report required
§ 6-03-54 Pledge – Ratio to assets
§ 6-03-54.1 Pledges of bank securities to secure repayment of deposits by a federally recognized Indian tribe
§ 6-03-55 Powers of pledgee of bank assets
§ 6-03-56 Unlawful borrowing, rediscounting, endorsing, pledging by officers, employees, and accessories – Penalty
§ 6-03-57 Foreclosure of pledge contracts
§ 6-03-58 Unlawful rediscounts, borrowings, and pledgings
§ 6-03-59 Loan limitation to one borrower or concern
§ 6-03-59.1 Leasing of personal property – Limitation on term and amount
§ 6-03-59.2 Lease financing of public facilities
§ 6-03-60 Loans to and purchases from directors, executive officers, and principal shareholders – Restrictions – Conditions – Penalty – Civil liability
§ 6-03-61 Excessive loan – Validity – Penalty – Personal liability
§ 6-03-62 Interest on loans – Rate
§ 6-03-63 Interest on deposits – Rates payable – Penalty
§ 6-03-64 Payment of deposits made by fiduciaries, officers, minors, and associations
§ 6-03-65 Deposit in trust – To whom paid
§ 6-03-67 Appropriation of deposits unlawful – Exception – Liability therefor
§ 6-03-67.1 Operation without federal deposit insurance prohibited – Liability – Penalty
§ 6-03-68.1 Settlement of check presented by or through federal reserve bank or Bank of North Dakota
§ 6-03-69 Report of examining committee
§ 6-03-70 Reports – Regular and special – Publication – Penalty
§ 6-03-71 Bonds of officers and employees
§ 6-03-72 Certification of checks, drafts, and orders – Penalty
§ 6-03-76 Records search reimbursement
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Terms Used In North Dakota Code > Chapter 6-03 - Powers, Management, and Operation of Banks

  • Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Air carrier transportation property: means the operative property of each airline whose property is assessed for taxation purposes pursuant to chapters 57-06 and 57-32. See North Dakota Code 57-02-01
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assessed valuation: means fifty percent of the true and full value of property. See North Dakota Code 57-02-01
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • 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
  • Bank holding company: means bank holding company as defined in 12 U. 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
  • Banking institution: means any bank, trust company, or bank and trust company organized under the laws of this state. See North Dakota Code 6-01-02
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • board: when used in this title includes the state banking board and the state credit union board. See North Dakota Code 6-01-03
  • Branch: means a place of business where deposits are received, checks paid, or money lent as a result of a bank that was merged into another bank pursuant to an interstate merger. See North Dakota Code 6-01-02
  • 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
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • children: includes children by birth and by adoption. See North Dakota Code 1-01-18
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Commercial property: means all property, or portions of property, not included in the classes of property defined in subsections 1, 4, 11, and 12. See North Dakota Code 57-02-01
  • Commissioner: means the commissioner of financial institutions. See North Dakota Code 6-01-02
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contingent beneficiary: Receiver of property or benefits if the first named beneficiary fails to receive any or all of the property or benefits in question before his (her) death.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Credits: means and includes every claim and demand for money or other valuable thing, and every annuity or sum of money receivable at stated periods, due or to become due, and all claims and demands secured by deeds or mortgages, due or to become due. See North Dakota Code 57-02-01
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dependent: A person dependent for support upon another.
  • Derivative transaction: means derivative transaction as defined in 12 U. See North Dakota Code 6-01-02
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Docket: A log containing brief entries of court proceedings.
  • Donor: The person who makes a gift.
  • Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See North Dakota Code 6-01-02
  • Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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.
  • Ex officio: Literally, by virtue of one's office.
  • Executor: A male person named in a will to carry out the decedent
  • Executor: includes administrator and "administrator" includes executor. See North Dakota Code 1-01-49
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiduciary: A trustee, executor, or administrator.
  • 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
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • freeholder: means the legal title owner of the surface estate in real property. See North Dakota Code 58-01-01.1
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Governing body: means a board of county commissioners, city council, board of city commissioners, school board, or board of education, or the similarly constituted and acting board of any other municipality. See North Dakota Code 57-02-01
  • Grantor: The person who establishes a trust and places property into it.
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Individual: means a human being. See North Dakota Code 1-01-49
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Inter vivos: Transfer of property from one living person to another living person.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Intestate: Dying without leaving a will.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legacy: A gift of property made by will.
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Legatee: A beneficiary of a decedent
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Lineal descendant: Direct descendant of the same ancestors.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
  • Market value: means the highest price for which property can be sold in the open market by a willing seller to a willing purchaser, neither acting upon compulsion and both exercising reasonable judgment. See North Dakota Code 6-01-02
  • merge: means the merging or consolidation of two or more banks including the purchase of all or substantially all of the assets and assumption of liabilities of a bank, facility, or branch. See North Dakota Code 6-01-02
  • moneys: means gold and silver coin, treasury notes, bank notes, and every deposit which any person owning the same or holding in trust and residing in this state is entitled to withdraw as money or on demand. See North Dakota Code 57-02-01
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • national banking association: means an institution chartered by the comptroller of the currency under the National Bank Act [12 U. See North Dakota Code 6-01-02
  • Oath: A promise to tell the truth.
  • Oath: includes "affirmation". See North Dakota Code 1-01-49
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
  • Original bill: A bill which is drafted by a committee. It is introduced by the committee or subcommittee chairman after the committee votes to report it.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • paper: means any flexible material upon which it is usual to write. See North Dakota Code 1-01-27
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Partnership: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See North Dakota Code 1-01-49
  • Petit jury: A group of citizens who hear the evidence presented by both sides at trial and determine the facts in dispute. Federal criminal juries consist of 12 persons. Federal civil juries consist of six persons.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • population: means the number of inhabitants as determined by the last preceding state or federal census. See North Dakota Code 1-01-47
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Primary sector business: means an individual, corporation, limited liability company, partnership, or association certified by the department of commerce division of economic development and finance which through the employment of knowledge or labor adds value to a product, process, or service which results in the creation of new wealth. See North Dakota Code 1-01-49
  • Probate: Proving a will
  • Process: means a writ or summons issued in the course of judicial proceedings. See North Dakota Code 1-01-49
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • qualified elector: means a citizen of the United States who is eighteen years of age or older; and is a resident of this state and of the area affected by the petition. See North Dakota Code 1-01-51
  • Quorum: The number of legislators that must be present to do business.
  • Railroad property: means the operating property, including franchises, of each railroad operated in this state, including any electric or other street or interurban railway. See North Dakota Code 57-02-01
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See North Dakota Code 6-01-02
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Rule: includes regulation. See North Dakota Code 1-01-49
  • seal: includes an impression of such seal upon the paper alone as well as upon wax or a wafer affixed thereto. See North Dakota Code 1-01-38
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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
  • state banking association: means any corporation organized under the laws of this state covering state banking associations, and all corporations, limited liability companies, partnerships, firms, or associations whose business in whole or in part consists of the taking of money on deposit, except national banks, trust companies, and the Bank of North Dakota. See North Dakota Code 6-01-02
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • subscription: includes "mark" when the person cannot write, the person's name being written near it and written by a person who writes that person's own name as a witness. See North Dakota Code 1-01-49
  • Summons: Another word for subpoena used by the criminal justice system.
  • Taxable valuation: signifies the valuation remaining after deducting exemptions and making other reductions from the original assessed valuation, and is the valuation upon which the rate of levy finally is computed and against which the taxes finally are extended. See North Dakota Code 57-02-01
  • taxing district: means a county, city, township, school district, water conservation and flood control district, Garrison Diversion Conservancy District, county park district, joint county park district, irrigation district, park district, rural fire protection district, or any other subdivision of the state empowered to levy taxes. See North Dakota Code 57-02-01
  • Testator: A male person who leaves a will at death.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • True and full value: means the value determined by considering the earning or productive capacity, if any, the market value, if any, and all other matters that affect the actual value of the property to be assessed. See North Dakota Code 57-02-01
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trust company: means any corporation formed for the purpose of transacting business as an annuity, safe deposit, surety, or trust company. See North Dakota Code 6-01-02
  • Trustee: A person or institution holding and administering property in trust.
  • Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
  • United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • Venue: The geographical location in which a case is tried.
  • Verified: means sworn to before an officer authorized to administer oaths. See North Dakota Code 1-01-42
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
  • week: means seven consecutive days and the word "month" a calendar month. See North Dakota Code 1-01-33
  • written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
  • year: means twelve consecutive months. See North Dakota Code 1-01-33