North Dakota Code 6-08.1-01 – Definitions
As used in this chapter:
Terms Used In North Dakota Code 6-08.1-01
- 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
- board: when used in this title includes the state banking board and the state credit union board. See North Dakota Code 6-01-03
- 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.
- Credit union: means a cooperative, nonprofit association organized for the purposes of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, and providing an opportunity for its members to improve their economic and social condition. See North Dakota Code 6-01-02
- Fiduciary: A trustee, executor, or administrator.
- Financial institution: means any bank, industrial loan company, or savings and loan association organized under the laws of this state or of the United States. See North Dakota Code 6-01-02
- following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- Property: includes property, real and personal. See North Dakota Code 1-01-49
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See North Dakota Code 6-01-02
- 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
- Trust company: means any corporation formed for the purpose of transacting business as an annuity, safe deposit, surety, or trust company. See North Dakota Code 6-01-02
- United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. “Customer” means any person that is a resident of or is domiciled in this state and which has transacted or is transacting business with or has used or is using the services of a financial institution, or for which a financial institution has acted as a fiduciary with respect to trust property.
2. “Customer information” means either of the following:
a. Any original or any copy of any records held by a financial institution pertaining to a customer’s relationship with the financial institution.
b. Any information derived from a record described in this subsection.
3. “Financial institution” means any organization authorized to do business under state or federal laws relating to financial institutions, including, without limitation, a bank, including the Bank of North Dakota, a savings bank, a trust company, a savings and loan association, or a credit union.
4. “Financial institution regulatory agency” means any of the following:
a. The federal deposit insurance corporation.
b. The federal savings and loan insurance corporation. c. The national credit union administration.
d. The federal reserve board.
e. The United States comptroller of the currency. f. The department of financial institutions.
g. The federal home loan bank board.
5. “Governmental agency” means any agency or department of this state, or any authorized officer, employee, or agent of an agency or department of this state.
6. “Law enforcement agency” means any agency or department of this state or of any political subdivision of this state authorized by law to enforce the law and to conduct or engage in investigations or prosecutions for violations of law.