{"data":{"id":"us-nd/n.d.-cent.-code-6-08.4-08","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 6-08.4-08","heading":"Powers of industrial bank","body":"An industrial bank may not accept deposits or make loans at a commercial location unless the industrial bank is owned by a financial holding company as defined in 12 U.S.C. 1841(p). For purposes of this section, \"commercial location\" means a location owned, operated, leased, or otherwise controlled by an entity that derives fifteen percent or more of its annual gross revenues, on a consolidated basis, including all affiliates of the entity, from engaging, on an ongoing basis, in activities that are not financial in nature or incidental to a financial activity during at least three of the prior four calendar quarters, as determined by the department of financial institutions.","path":["Title 6 Banks And Banking","Chapter 6-08.4 Interstate Branching"],"source_url":"https://ndlegis.gov/cencode/t06c08-4.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"f51d0d16f467b09c1bf2c28fb8c4f5f9b47964825025a81a42fe1ad2e72cffaf","source_id":"us-nd","stale":true,"prev":"us-nd/n.d.-cent.-code-6-08.4-07","next":"us-nd/n.d.-cent.-code-6-08.5-01"},"notice":"GroundRules: Original legal text. Not legal advice."}