North Dakota § 6-03-61 - Excessive loan - Validity - Penalty - Personal liability
Full text of North Dakota North Dakota Century Code § 6-03-61 — Excessive loan - Validity - Penalty - Personal liability, with citation guidance and answers to common questions.
§ 6-03-61. Excessive loan - Validity - Penalty - Personal liability
Whenever a state banking association allows any person, copartnership, or corporation to become indebted to it, directly or indirectly, in excess of the amount, exclusive of interest, permitted by this title, the officer, director, or employee thereof willfully permitting or approving such loan is guilty of a class B misdemeanor, and in addition thereto, is liable personally to the association for the amount of such loan in excess of the statutory limit. Unauthorized loans, however, are not invalid.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 6-03-61
What does North Dakota Century Code § 6-03-61 cover?
Section 6-03-61 ("Excessive loan - Validity - Penalty - Personal liability") 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 § 6-03-61?
A common citation format is "North Dakota Century Code § 6-03-61" (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 § 6-03-61 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.