Equity capital

The minimum equity capital for organization of a trust company is five hundred thousand dollars. The board may require additional equity capital whenever the proposed location of the trust company, the amount of fiduciary assets projected for the trust company, the amount of direct investments by the trust company, or other relevant financial projections so indicate. The minimum equity capital level set by the board will be such as necessary to ensure that the applicant is adapted to the filling of the need to establish trust services. History: Effective November 1, 1994.

General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-05-01