Certificates of deposit, as defined in section 41-03-04, may only be issued in this state by financial institutions authorized to issue certificates of deposit and chartered to do business in this state under this chapter or as authorized under section 6-06-06.1. Any person violating this section is subject to a civil penalty not to exceed five thousand dollars.
N.D. Cent. Code § 6-03-02.2
Issuance of certificates of deposit - Penalty
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.