Current as of January 01, 2020 | Updated by FindLaw Staff
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Whenever any depository financial institution desires to terminate the liability for any deposits of any public corporation for which such depository has given a bond or pledged assets for the repayment, it shall notify the board of the public corporation affected of such desire. Thereupon such public corporation immediately shall withdraw such funds from such depository and upon withdrawal, immediately shall release and surrender to such depository financial institution, the bonds or securities which are pledged for the repayment of such deposit.
Cite this article: FindLaw.com - North Dakota Century Code Title 21. Governmental Finance § 21-04-12. Termination of depository relationship - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-21-governmental-finance/nd-cent-code-sect-21-04-12/
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