Loans to members of a partnership or association.

13-02-09-05. Loans to members of a partnership or association. Where persons are engaged in a common enterprise, whether in the form of a partnership, joint venture, or other association, and individually borrowed funds are to be used in that enterprise, the loans must be considered as a single extension of credit, unless the bank has established that the enterprise is not the source of repayment. History: Effective September 1, 1986; amended effective December 1, 1998. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-03-59 3