Senate Bill 2084 Summary

• Adds "bank holding company" definition referencing 12 U.S.C. 1841(a)(1) to North Dakota Century Code definitions section.

• Creates new authority for the Department of Financial Institutions to investigate bank holding companies that own or control North Dakota state chartered financial institutions and impose penalties for unsafe practices.

• Expands commissioner's examination authority to include technology service providers serving financial institutions, evaluating their risk management systems, controls, and legal compliance.

• Establishes fee structure for credit union examinations when more than one visit or inspection occurs in a twelve-month period, charged at hourly rates set by the commissioner to cover departmental expenses.

• Repeals section 6-05-25 regarding when subscribed capital stock must be paid in by annuity, safe deposit, surety, and trust companies.