North Dakota Administrative Code
Title 13 - Department of Financial Institutions
Article 13-03 - Credit Unions
Chapter 13-03-22 - Investment Activities
Section 13-03-22-11 - Broker-dealers
Current through Supplement No. 392, April, 2024
1. A credit union may purchase and sell investments through a broker-dealer as long as the broker-dealer is registered as a broker-dealer with the securities and exchange commission under the Securities Exchange Act of 1934 [ 15 U.S.C. 781 et seq.] or is a depository institution whose broker-dealer activities are regulated by a federal or state regulatory agency.
2. Before purchasing an investment through a broker-dealer, a credit union must analyze and annually update the following:
3. The requirements of subsection 1 do not apply when the credit union purchases a certificate of deposit or share certificate directly from a bank, credit union, or other depository institution.
General Authority: NDCC 6-01-04
Law Implemented: NDCC 6-06-06