Payment of claims
N.D. Cent. Code § 6-07.2-09
in effect6-07.2-09. Payment of claims
1. All claims against the institution's estate, proved to the receiver's satisfaction or
approved by the circuit court, must be paid in the following order:
a. Administration expenses, including compensation of each regular officer or
employee of the receiver for the time actually devoted to the liquidation of the
institution at an amount not to exceed the compensation paid to the officer or
employee for the performance of the officer's or employee's regular duties; actual
expenses of each regular officer and employee necessarily incurred in the
performance of the officer's or employee's duties; compensation and expenses of
any special representative, assistant, accountant, agent, or attorney employed by
the receiver; court costs; and if the commissioner is acting as receiver, such
reasonable general overhead expenses as may be incurred by the commissioner
in the liquidation of the affairs of the institution which shall be ascertained,
determined, and fixed by the commissioner.
b. Claims given priority under other provisions of state or federal law.
c. Deposit obligations, except that notwithstanding sections 6-03-67 and 41-04-31, if
a depositor is indebted to an insolvent bank, the insolvent bank has a right to
setoff against the depositor's account.
d. Other general liabilities.
e. Debt subordinated to the claims of depositors and general creditors.
f. Equity capital securities.
g. For credit unions and cooperative financial institutions, pro rata distribution to
members computed based on the total amount in each member's deposit
accounts as of the date of liquidation.
2. Interest on a claim may not be paid until all claims within the same class have received
the full principal amount of claim.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t06c07-2.pdf#nameddest=6-07p2-09Fetched: 10/16/2026