Authorization of deposit production offices.

13-02-22-02. Authorization of deposit production offices. The commissioner may authorize the establishment of deposit production offices by state-chartered banks. In determining whether to approve the application for a deposit office the commissioner shall take into consideration the following: 1. Whether the applicant bank is at least adequately capitalized per the most recently filed report of condition and income; 2. The volume of deposits that applicant anticipates generating; 3. The information provided pursuant to section 13-02-22-05; and 4. Any other information the commissioner deems appropriate. If an application for the establishment of a deposit production office is denied by the commissioner, the applicant bank may appeal the decision of the commissioner to the state banking board. History: Effective July 1, 2009. General Authority: NDCC 6-01-04, 6-03-02 Law Implemented: NDCC 6-03-38