North Dakota § 6-03-51 - Borrowing, normal and emergency - Limitations
Full text of North Dakota North Dakota Century Code § 6-03-51 — Borrowing, normal and emergency - Limitations, with citation guidance and answers to common questions.
§ 6-03-51. Borrowing, normal and emergency - Limitations
Any state banking association has power to borrow money subject to the limitations of this chapter. Money borrowed from correspondent banks must be evidenced by the promissory note or notes of the borrowing association, and no such association may issue its certificate of deposit for money so borrowed or otherwise conceal the true nature of the transaction. Nothing herein affects the right of a state banking association to receive bona fide deposits from banks or other persons.
Frequently Asked Questions About North Dakota § 6-03-51
What does North Dakota Century Code § 6-03-51 cover?
Section 6-03-51 ("Borrowing, normal and emergency - Limitations") 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 § 6-03-51?
A common citation format is "North Dakota Century Code § 6-03-51" (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 § 6-03-51 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.