6-01-04. Powers and duties of the state banking board and state credit union board (Effective through June 30, 2029)

6-01-04. Powers and duties of the state banking board and state credit union board

(Effective through June 30, 2029)

1. The state banking board may adopt rules for the government of financial institutions

and trust companies mentioned in section 6-01-01 to the extent the rules do not

conflict with any law of this state or of the United States. The state banking board shall

make and enforce such orders as are necessary or proper to protect the public and the

depositors or creditors of those financial institutions and trust companies.

2. The same powers are given to the state credit union board with reference to credit

unions as are granted to the state banking board with reference to financial institutions

and trust companies named in this chapter.

3. The state banking board and state credit union board shall hold a joint meeting to

consider any budget recommendations from the commissioner. Upon consideration of

a budget recommendation, the boards shall approve an annual or biennial budget for

the department of financial institutions, including the number of full-time equivalent

positions. A majority of the members of each board must be present to constitute a

quorum for the joint meeting, and approval by a majority of the members present of

each board is required to approve an annual or biennial budget for the department of

financial institutions.

Powers and duties of the state banking board and state credit union board. (Effective

after June 30, 2029) The state banking board may adopt rules for the government of financial

institutions and trust companies mentioned in section 6-01-01 to the extent the rules do not

conflict with any law of this state or of the United States. The state banking board shall make

and enforce such orders as are necessary or proper to protect the public and the depositors or

creditors of those financial institutions and trust companies.

The same powers are given to the state credit union board with reference to credit unions

as are granted to the state banking board with reference to financial institutions and trust

companies named in this chapter.