ND HB1191

Amends North Dakota Century Code section 21-13-02 to modify requirements for political subdivision loans from banks or credit unions located in the state.

Requires loan authorization by governing body resolution that identifies the revenue for repayment and any collateral securing the loan.

Expands loan agreement signature requirements to include the president or chairman, auditor, business manager, and secretary, or their equivalents.

Passed House with 89 yeas, 0 nays, 5 absent and Senate with 46 yeas, 0 nays, 1 absent.