N.D. Cent. Code § 6-08.3-07: Divestiture - Cease and desist

1.If a reciprocating state bank holding company makes an acquisition other than in full compliance with the requirements and procedures of this chapter, the board may, by order:

a.Immediately require the reciprocating state bank holding company to divest itself of its direct or indirect ownership or control of any bank located in this state; or

b.Require the reciprocating state bank holding company to cease and desist the violations by a certain date.

2.The order is subject to the procedures applicable to cease and desist proceedings under section 6-01-04.2 and any applicable rules.