Notwithstanding any other statute, the notes or other interest-bearing obligations of a state development corporation, issued in accordance with this chapter and the articles of    incorporation and the bylaws of the corporation, are legal investments for any bank that becomes a member of the corporation.

Terms Used In North Dakota Code 10-30.6-10

  • 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.
  • 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
  • Statute: A law passed by a legislature.

                                                                    

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