Loans on real estate - Regulation - Limitation
N.D. Cent. Code § 6-03-05
in effect6-03-05. Loans on real estate - Regulation - Limitation
1. Before any real estate loan equal to or more than four hundred thousand dollars is
made, an appraisal must be conducted by a licensed or certified appraiser if required
by the federal Financial Reform, Recovery, and Enforcement Act of 1989 [Pub. L.
101-73; 103 Stat. 512; 12 U.S.C. 3332 et seq.].
2. Before any real estate loan that does not meet the requirements of subsection 1 is
made, a bank must obtain an appropriate evaluation of real property collateral for
transactions if an appraisal by a licensed or certified appraiser is not obtained.
3. Regardless of the value of a real estate loan, the commissioner may issue an order
requiring an appraisal by a licensed or certified appraiser when necessary to address
safety and soundness concerns. Any real estate loan made must conform to
loan-to-value limits as established by rule by the state banking board under chapter
28-32.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t06c03.pdf#nameddest=6-03-05Fetched: 10/16/2026