10-30-02. Purposes - Loans from Bank of North Dakota.
182 words·~1 min read·
/nd/title-10/chapter-10-30-development-corporations/10-30-02·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purpose of the corporation is to assist, encourage, and through the cooperative efforts of the institutions and corporations which from time to time become members thereof, develop and advance the business prosperity and economic welfare of this state; to encourage and assist in the location of new business and industry in this state and to rehabilitate existing business and industry; to stimulate and assist in the expansion of all kinds of business activity which will tend to promote the business development and maintain the economic stability of this state and provide maximum opportunities for employment; to cooperate and act in conjunction with other organizations, public or private, the objects of which are the promotion and advancement of industrial, commercial, agricultural, and recreational developments in this state; and to furnish money and credit to approved and deserving applicants for the promotion, development, and conduct of all kinds of business activity in this state, thereby establishing a source of credit not otherwise readily available therefor.
In furtherance of these purposes, the Bank of North Dakota is authorized to make loans to the corporation.