North Dakota Code 6-08.4-01 – Definitions
For purposes of this chapter, unless the context otherwise requires:
Terms Used In North Dakota Code 6-08.4-01
- Bank: means any national bank, national banking association, corporation, state bank, state banking association, or savings bank, whether organized under the laws of this state or of the United States, engaged in the business of banking. See North Dakota Code 6-01-02
- Bank holding company: means bank holding company as defined in 12 U. See North Dakota Code 6-01-02
- Branch: means a place of business where deposits are received, checks paid, or money lent as a result of a bank that was merged into another bank pursuant to an interstate merger. See North Dakota Code 6-01-02
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
- United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. “Affiliate” means a company that controls, is controlled by, or is under common control with another company.
2. “Bank” means insured depository institution as defined in 12 U.S.C. § 1813(c)(2), but the term does not include “foreign bank” as defined in 12 U.S.C. § 3101(7), except any foreign bank organized under the laws of a territory of the United States, the deposits of which are insured by the federal deposit insurance corporation.
3. “Commercial activities” means activities in which a bank holding company, a financial holding company, a national bank, or a national bank financial subsidiary may not engage under federal law.
4. “Home state” means:
a. With respect to a national bank, the state in which the main office is located; and b. With respect to a state bank, the state by which the bank is chartered.
5. “Transaction” means a bank’s establishment, operation, and, as applicable, retention of a bank branch office in a state other than its home state, whether de novo, by acquisition of a separate branch office, or through a merger of a North Dakota bank with another bank.