North Dakota Century Code Title 6. Banks and Banking § 6-03-44. Preferred stock included in capital--Reduction of common stock

The preferred stock lawfully issued by a banking institution must be included in determining whether such banking institution has complied with the minimum capital stock requirements provided in this title. Such preferred stock may be used in the capital structure of such institution in the reduction of the common stock or in addition thereto. This section may not be construed as in any manner decreasing the amount of capital required of an institution under the laws of this state.