Regulatory Alerts2011-03-10
Added · Updated
North Dakota State Banking Board: Investment in a Banker's Bank Holding Company
The North Dakota State Banking Board issued a letter confirming that state-chartered banks are authorized to invest in securities of a banker's bank holding company under NDAC § 13-02-10-01. This authority is derived from parity rules, meaning state banks possess the same investment powers as federally chartered banks under 12 U.S.C. § 27(7). Consequently, any federal limitations on such investments, including purchase limits, apply equally to state banks, and state authority terminates if federal authorization ceases.
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