North Dakota § 6-05-05 - Certificate of deposit
Full text of North Dakota North Dakota Century Code § 6-05-05 — Certificate of deposit, with citation guidance and answers to common questions.
§ 6-05-05. Certificate of deposit
Whenever any such corporation assigns, transfers, and delivers to the commissioner, or a designated agent, the securities described in section 6-05-04 and all evidences of such investment, the commissioner, or a designated agent, shall execute and deliver to the corporation a certificate of such deposit, and thereupon, the said corporation may commence and carry on business under the provisions of this chapter. The commissioner, or a designated agent, shall hold the said securities so deposited with the commissioner or agent as collateral security for the depositors and creditors of the corporation, and for the faithful execution of any trusts which may be imposed lawfully upon and accepted by such corporation. The corporation from time to time may withdraw the said securities or any part thereof from the commissioner, or a designated agent, upon depositing with the commissioner or agent other securities of equal amount and value and of the kinds specified in section 6-05-04. Until otherwise ordered by a court of competent jurisdiction, the said commissioner, or a designated agent, shall pay over to such corporation the interest and dividends which the commissioner or agent collects upon such securities. Any corporation having a larger deposit with the commissioner, or a designated agent, than is required by this chapter must be allowed at any time to withdraw its excess deposit.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 6-05-05
What does North Dakota Century Code § 6-05-05 cover?
Section 6-05-05 ("Certificate of deposit") 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 § 6-05-05?
A common citation format is "North Dakota Century Code § 6-05-05" (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 § 6-05-05 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.