N.D. Admin Code 13-02-22-02 - Authorization of deposit production offices

The commissioner may authorize the establishment of deposit production offices by state-chartered banks. In determining whether to approve the application for a deposit office the commissioner shall take into consideration the following:

1. Whether the applicant bank is at least adequately capitalized per the most recently filed report of condition and income;

2. The volume of deposits that applicant anticipates generating;

3. The information provided pursuant to section 13-02-22-05; and

4. Any other information the commissioner deems appropriate.

If an application for the establishment of a deposit production office is denied by the commissioner, the applicant bank may appeal the decision of the commissioner to the state banking board.

Notes

N.D. Admin Code 13-02-22-02

Effective July 1, 2009.

General Authority: NDCC 6-01-04, 6-03-02

Law Implemented: NDCC 6-03-38