A cooperative financial institution formed under this chapter shall have a capital structure the state banking board or commissioner determines is adequate. The cooperative financial institution shall comply with prompt corrective actions requirements of section 6-01-04.4. A cooperative financial institution is not authorized to issue capital stock, common stock, preferred stock, or other forms of equity ownership authorized by this title for other types of banking associations.
N.D. Cent. Code § 6-06.2-03
Capital structure
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.