Subrogation of federal deposit insurance agency to right of depositors
N.D. Cent. Code § 6-07.2-11
in effect6-07.2-11. Subrogation of federal deposit insurance agency to right of depositors
If a federal deposit insurance agency pays or makes available for payment the insured
deposit liabilities of a closed institution, the federal deposit insurance agency, whether or not the
federal deposit insurance agency acts as receiver, must be subrogated by operation of law to all
rights of depositors against the closed institution relating to claims for deposits so paid by the
federal deposit insurance agency to the extent necessary to enable the federal deposit
insurance agency, under federal law, to make insurance payments available to depositors of
closed institutions.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t06c07-2.pdf#nameddest=6-07p2-11Fetched: 10/16/2026