Capital stock, surplus, and federal deposit insurance requirements
N.D. Cent. Code § 6-02-03
in effect6-02-03. Capital stock, surplus, and federal deposit insurance requirements
1. The capital stock of any banking association organized after June 30, 1987, must be
not less than one hundred thousand dollars. In addition to such capital requirements,
there must be subscribed and paid in at the time of organization a surplus of not less
than fifty thousand dollars. This subsection does not apply to cooperative financial
institutions.
2. The state banking board may require such additional capital, surplus, and undivided
profits as it may determine necessary to properly serve the area and to protect the
public interest.
3. All of the capital stock and surplus of every association must be paid in before it is
authorized to commence business and evidence of such payment either in actual
money or a deposit in a previously approved correspondent bank must be furnished to
the commissioner before the certificate of authority may be delivered to it.
4. A banking association shall secure federal deposit insurance corporation insurance of
deposits before it is authorized to commence business. Evidence of securing such
insurance must be furnished to the commissioner before the certificate of authority
may be delivered to the banking association.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t06c02.pdf#nameddest=6-02-03Fetched: 10/16/2026