N.D. Admin Code 13-02-01-13 - Authorization

Current through Supplement No. 382, October, 2021

The state banking board authorizes state banks to pay interest on deposits in accordance with all interest rate authorizations adopted by the board of governors of the federal reserve system pursuant to the provisions of section 19 of the Federal Reserve Act, 12 CFR Part 217 (also known as regulation Q) and all interest rate adjustments authorized by the depository institutions deregulation committee pursuant to the provisions of the Depository Institutions Deregulation and Monetary Control Act of 1980, and published in the federal register.

The authority for state banks to pay such interest on deposits shall be the date the adjustments are effective unless the state banking board shall otherwise direct within ninety days of the state banking board receiving notification of proposed adjustments.

Notes

N.D. Admin Code 13-02-01-13
Effective September 1, 1982.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-03-02, 6-03-63

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