Nonbank bank not qualified to do business
N.D. Cent. Code § 6-02-02.1
in effect6-02-02.1. Nonbank bank not qualified to do business
It is unlawful for any organization, association, or corporation, which owns or controls an
institution insured by the federal deposit insurance corporation, to own or control an institution
insured by the federal deposit insurance corporation or eligible to be insured by the federal
deposit insurance corporation which accepts deposits that the depositor has a legal right to
withdraw on demand or engages in the business of making commercial loans but does not do
both.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t06c02.pdf#nameddest=6-02-02p1Fetched: 10/16/2026