Regulatory Alerts1997-12-02
Added · Updated
State Banking Board: Authority to sell insurance through bank or a subsidiary
The North Dakota State Banking Board issued an order authorizing state-chartered banks to sell insurance as an incidental banking activity under House Bill No. 1060. Banks may sell specific insurance products directly or through subsidiaries, though subsidiary investments require Board approval while direct sales do not. All insurance sales must comply with North Dakota insurance laws and require sales personnel to be licensed by the Department of Insurance.