North Dakota § 21-10-06 - It shall approve general types of securities for investment by these funds
Full text of North Dakota North Dakota Century Code § 21-10-06 — It shall approve general types of securities for investment by these funds, with citation guidance and answers to common questions.
§ 21-10-06. It shall approve general types of securities for investment by these funds
and set policies and procedures regulating securities transactions on behalf of the various funds. Representatives of the funds enumerated in section 21-10-06 may make recommendations to the board in regard to investments. 2. The board or its designated agents must be custodian of securities purchased on behalf of funds under the management of the board. 3. The board may appoint an investment director or advisory service, or both, who must be experienced in, and hold considerable knowledge of, the field of investments. The investment director or advisory service shall serve at the pleasure of the board. The investment director or advisory service may be an individual, corporation, limited liability company, partnership, or any legal entity which meets the qualifications 4. 5. established herein. The board may authorize the investment director to lend securities held by the funds. These securities must be collateralized as directed by the board. The board may create investment fund pools in which the funds identified in section 21-10-06 may invest. For purposes of investment of the legacy fund, the board shall give preference to investment firms and financial institutions with a presence in the state.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 21-10-06
What does North Dakota Century Code § 21-10-06 cover?
Section 21-10-06 ("It shall approve general types of securities for investment by these funds") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 21-10-06?
A common citation format is "North Dakota Century Code § 21-10-06" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 21-10-06 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.