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North Dakota Century Code Title 6. Banks and Banking § 6-07.2-10. Rejection of contracts and leases

Current as of January 01, 2024 | Updated by Findlaw Staff

1. Within one hundred eighty days after the date the commissioner has taken possession, the receiver may reject:

a. An executory contract to which the closed institution is a party without any further liability to the closed institution or the receiver; and

b. An obligation of the institution as a lessee of real or personal property.

2. The receiver's election to reject a lease does not create a claim for rent other than rent accrued to the date of termination.

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Cite this article: FindLaw.com - North Dakota Century Code Title 6. Banks and Banking § 6-07.2-10. Rejection of contracts and leases - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-6-banks-and-banking/nd-cent-code-sect-6-07-2-10/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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