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Current as of January 01, 2024 | Updated by FindLaw Staff
Whenever it appears to the commissioner, from an examination of the business of any such corporation, that the deposit made by it, as hereinbefore required, is insufficient to insure the safety of its deposit, trust, and contingent liabilities, the commissioner shall make an order, as hereinafter provided, requiring an increase of such deposit. Such company immediately upon receipt of such order shall deposit with the commissioner, or a designated agent, other and further securities of the kind, class, and value designated in section 6-05-04 in an amount sufficient to comply with said order.
Cite this article: FindLaw.com - North Dakota Century Code Title 6. Banks and Banking § 6-05-27. Commissioner to order increase in security deposit--When - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-6-banks-and-banking/nd-cent-code-sect-6-05-27/
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