North Dakota § 6-02-02.1 - Nonbank bank not qualified to do business
Full text of North Dakota North Dakota Century Code § 6-02-02.1 — Nonbank bank not qualified to do business, with citation guidance and answers to common questions.
§ 6-02-02.1. 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: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 6-02-02.1
What does North Dakota Century Code § 6-02-02.1 cover?
Section 6-02-02.1 ("Nonbank bank not qualified to do business") 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 § 6-02-02.1?
A common citation format is "North Dakota Century Code § 6-02-02.1" (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 § 6-02-02.1 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.