{"data":{"id":"us-nd/n.d.-cent.-code-6-03-05","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 6-03-05","heading":"Loans on real estate - Regulation - Limitation","body":"1.Before any real estate loan equal to or more than four hundred thousand dollars is made, an appraisal must be conducted by a licensed or certified appraiser if required by the federal Financial Reform, Recovery, and Enforcement Act of 1989 [Pub. L. 101-73; 103 Stat. 512; 12 U.S.C. 3332 et seq.].\n2.Before any real estate loan that does not meet the requirements of subsection 1 is made, a bank must obtain an appropriate evaluation of real property collateral for transactions if an appraisal by a licensed or certified appraiser is not obtained.\n3.Regardless of the value of a real estate loan, the commissioner may issue an order requiring an appraisal by a licensed or certified appraiser when necessary to address safety and soundness concerns. Any real estate loan made must conform to loan-to-value limits as established by rule by the state banking board under chapter 28-32.","path":["Title 6 Banks And Banking","Chapter 6-03 Powers, Management, And Operation Of Banks"],"source_url":"https://ndlegis.gov/cencode/t06c03.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"52d25fdd7d151a49e1f9f3dc09834bc6ea6d7e6bc186042174f27cc8412ef9a8","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-6-03-04.1","next":"us-nd/n.d.-cent.-code-6-03-05.1"},"notice":"GroundRules: Original legal text. Not legal advice."}