It is unlawful for any state banking association, either directly or indirectly, to make any rediscount or contract to borrow money, nor may it borrow money, nor pledge or hypothecate, nor contract to pledge or hypothecate, any of its assets except in accordance with the provisions of this chapter.
N.D. Cent. Code § 6-03-58
Unlawful rediscounts, borrowings, and pledgings
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.