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Every receiver appointed by the state banking board except the federal deposit insurance corporation, before entering upon the discharge of the receiver's duties and before proceeding to liquidate the affairs of any bank, may be required by the board to furnish a bond executed by the state bonding fund or by some surety company. Such bond must be approved as to form by the attorney general and must be filed with the commissioner. The cost of such bond must be paid from the assets of the bank being liquidated, and suit may be maintained on the bond by any person injured by a breach of the conditions thereof.
Cite this article: FindLaw.com - North Dakota Century Code Title 6. Banks and Banking § 6-07-13. Administrative receiver to furnish bond - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-6-banks-and-banking/nd-cent-code-sect-6-07-13.html
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