North Dakota § 6-03-52 - Borrowing and rediscounting - Authorization by directors
Full text of North Dakota North Dakota Century Code § 6-03-52 — Borrowing and rediscounting - Authorization by directors, with citation guidance and answers to common questions.
§ 6-03-52. Borrowing and rediscounting - Authorization by directors
No banking association may borrow money, rediscount paper with recourse on it, or pledge securities for money borrowed or rediscounted paper, except in accordance with express authority conferred by resolution of its board of directors indicating the officer or officers who are authorized to borrow, rediscount, and pledge and the extent of their authority. Every such resolution must be entered in the minute book of the association, but a copy of such resolution certified as such by an officer of the association, authenticated by the seal of the association and accepted and acted upon by another bank or other lender in good faith is conclusive evidence of the existence and terms of the resolution.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 6-03-52
What does North Dakota Century Code § 6-03-52 cover?
Section 6-03-52 ("Borrowing and rediscounting - Authorization by directors") 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 § 6-03-52?
A common citation format is "North Dakota Century Code § 6-03-52" (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 § 6-03-52 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.