Subsidiary depository institutions as agents

N.D. Cent. Code § 6-03-14.2
in effect
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6-03-14.2. Subsidiary depository institutions as agents Any bank subsidiary of a bank holding company may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and any other obligations as an agent for a depository institution affiliate, subject to any requirements established by the board by rule. Notwithstanding any other law, a bank acting as an agent under this section may not be considered to be a branch of the affiliate. However, a depository institution may not conduct any activity as an agent that it is prohibited from conducting as a principal under any federal or state law.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t06c03.pdf#nameddest=6-03-14p2Fetched: 10/16/2026

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