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North Dakota Century Code Title 6. Banks and Banking § 6-08.3-07. Divestiture--Cease and desist

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

1. If a reciprocating state bank holding company makes an acquisition other than in full compliance with the requirements and procedures of this chapter, the board may, by order:

a. Immediately require the reciprocating state bank holding company to divest itself of its direct or indirect ownership or control of any bank located in this state; or

b. Require the reciprocating state bank holding company to cease and desist the violations by a certain date.

2. The order is subject to the procedures applicable to cease and desist proceedings under section 6-01-04.2 and any applicable rules.

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Cite this article: FindLaw.com - North Dakota Century Code Title 6. Banks and Banking § 6-08.3-07. Divestiture--Cease and desist - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-6-banks-and-banking/nd-cent-code-sect-6-08-3-07/

Read this complete North Dakota Century Code Title 6. Banks and Banking § 6-08.3-07. Divestiture--Cease and desist on Westlaw

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 or via Westlaw before relying on it for your legal needs.

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