North Dakota Administrative Code
Title 13 - Department of Financial Institutions
Article 13-03 - Credit Unions
Chapter 13-03-15 - Branching
Section 13-03-15-07 - Operations during epidemic or emergency - Notice to department

Universal Citation: ND Admin Code ยง 13-03-15-07
Current through Supplement No. 392, April, 2024

A credit union that operates physical facilities in any area that is experiencing an epidemic or other emergency may adjust the credit union's operations in any manner that is reasonable to protect the credit union's members, employees, assets, or business. Under this section, a credit union may temporarily close or relocate offices, employees, or operations; restrict access to offices or services; and change the manner in which the credit union provides services. A credit union shall notify the department of financial institutions of any actions the credit union takes under the authority of this section if such action results in a closure greater than one business day. The credit union shall give the department notice promptly and in any case within three business days of the credit union's decision to adjust the credit union's operations. The notice must describe the credit union's actions and the expected duration of the credit union's adjusted operations. Unless extended by the commissioner, a credit union's authority to change the credit union's operations under this section may not exceed sixty days.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-06

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