§ 6-09-01 Purpose and establishment of Bank of North Dakota
§ 6-09-02 Industrial commission to operate Bank – Business of Bank
§ 6-09-02.1 Declaration and finding of public purpose – Bank of North Dakota advisory board of directors
§ 6-09-02.2 Authority of the advisory board of directors to the Bank of North Dakota
§ 6-09-04 Commission to employ president and employees – Compensation, operation, and maintenance expenditures limited to appropriations, revenue, or capital
§ 6-09-05 Removal and discharge of appointees
§ 6-09-07 State funds must be deposited in Bank of North Dakota – Income of the Bank
§ 6-09-08 Nonliability of officers and sureties after deposit
§ 6-09-10 Guaranty of deposits – Exemption from all taxation
§ 6-09-11 Bank a clearinghouse
§ 6-09-15 Powers
§ 6-09-15.1 Loans to general fund authorized – Continuing appropriation – Report
§ 6-09-15.5 Bank loans to beginning farmers – Revolving loan fund – Requirements
§ 6-09-15.9 Limitations on loans by the Bank of North Dakota – Disclosure of interests in certain loans
§ 6-09-26 Name in which business conducted and titles taken – Execution of instruments
§ 6-09-27 Civil actions on Bank transactions – Name of parties – Service – Venue
§ 6-09-28 Surety on appeal, attachment, claim and delivery, and other cases in which undertaking required, not required of Bank of North Dakota
§ 6-09-29 Examinations and audit reports
§ 6-09-34 Electronic fund transfer systems
§ 6-09-35 Confidentiality of Bank records
§ 6-09-36 Bank of North Dakota – Custodian of securities
§ 6-09-37 Sale and leasing of acquired agricultural real estate
§ 6-09-38 North Dakota higher education savings plan – Administration – Rules – Continuing appropriation
§ 6-09-38.1 North Dakota achieving a better life experience plan – Administration – Rules – Continuing appropriation
§ 6-09-43 Health information technology planning loan fund – Appropriation
§ 6-09-44 Residential mortgages
§ 6-09-46.1 Rebuilders home loan program – Rebuilders home loan fund – Continuing appropriation – Requirements
§ 6-09-46.2 Rebuilders loan program – Rebuilders permanent loan fund – Continuing appropriation
§ 6-09-47 Medical facility infrastructure loan fund – Continuing appropriation – Audit and costs of administration
§ 6-09-48 Funds received in relation to federal student loan program – Administration – Continuing appropriation
§ 6-09-49 Infrastructure revolving loan fund – Continuing appropriation
§ 6-09-49.1 Legacy infrastructure loan fund – Continuing appropriation
§ 6-09-49.2 Water infrastructure revolving loan fund – State water commission – Continuing appropriation
§ 6-09-50 North Dakota financial center – Lease rates – Payments in lieu of taxes
§ 6-09-52 Bulk propane storage tank revolving loan fund – Continuing appropriation – Audit and costs of administration
§ 6-09-53 Economic diversification research fund – Report to legislative management
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Terms Used In North Dakota Code > Chapter 6-09 - The Bank of North Dakota

  • 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.
  • 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
  • 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
  • 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
  • Commissioner: means the commissioner of financial institutions. See North Dakota Code 6-01-02
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Credit union: means a cooperative, nonprofit association organized for the purposes of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, and providing an opportunity for its members to improve their economic and social condition. See North Dakota Code 6-01-02
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See North Dakota Code 6-01-02
  • 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.
  • 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
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • 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
  • 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
  • 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.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • 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
  • 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
  • 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.
  • 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
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • 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
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
  • Venue: The geographical location in which a case is tried.
  • year: means twelve consecutive months. See North Dakota Code 1-01-33