Prior to any acquisition under this chapter, the acquiring entity must present a plan to the state department of financial institutions. The plan must provide that the acquiring entity commits itself to the condition that it capitalize each bank to be acquired in this state according to the applicable banking laws of this state and the requirements of the federal deposit insurance corporation or any applicable federal banking laws.
N.D. Cent. Code § 6-08.2-02
Presentment of plan of acquiring entity to the state department of financial institutions
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.