North Dakota Code 54-30-32 – Management of the trust
During the intervals between remittances to the state treasurer for the state general fund, funds available therefor may be invested as other moneys of the Bank of North Dakota are invested. The president of the Bank of North Dakota shall collect upon and enforce to the fullest extent all rights, things, and properties belonging or accruing to the trust in the president’s custody. The president may foreclose mortgages by advertisement under power of sale in the manner that mortgages of the state school funds are foreclosed, and all remedies and procedures available to the state or any department thereof are available to the president to protect, manage, and conduct the trust. No special power of attorney nor affidavit as to attorney’s fees is required.
Terms Used In North Dakota Code 54-30-32
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. 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