Operation without federal deposit insurance prohibited - Liability - Penalty

N.D. Cent. Code § 6-03-67.1
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6-03-67.1. Operation without federal deposit insurance prohibited - Liability - Penalty No state banking association shall, after July 1, 1978, engage in the business of banking without securing and continuing in force federal deposit insurance corporation insurance of deposits. Any officer or director of any state banking association who violates this section is guilty of a class A misdemeanor and shall be personally liable to any person aggrieved for any damages caused by the violation.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t06c03.pdf#nameddest=6-03-67p1Fetched: 10/16/2026

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