N.D. Admin Code 13-02-09-05 - Loans to members of a partnership or association
Where persons are engaged in a common enterprise, whether in the form of a partnership, joint venture, or other association, and individually borrowed funds are to be used in that enterprise, the loans must be considered as a single extension of credit, unless the bank has established that the enterprise is not the source of repayment.
Notes
General Authority: NDCC 6-01-04
Law Implemented: NDCC 6-03-59
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