On Apr. 4, ND LEG reported enactment of bill to establish cooperatives.
ND LEG reported enactment of HB 1507 re establishment, organization of cooperative financial institutions; application, powers, claims, liquidation, sale; amends ND FIN 6.
Bill Provisions
Provides definitions for banking terms, outlines regulatory framework for cooperative financial institutions, including supervision and examination by State and federal.
Entities without capital stock, organized for mutual purposes and without profit.
Guidelines including organizational structure, governance, and financial operations.
Legislative History
On Jan. 20, 2025, bill introduced in the House; on Feb. 10, 2025, bill passed in House.
On Feb. 11, 2025, bill introduced in the Senate; on Mar. 24, 2025, bill passed Senate.
On Apr. 4, 2025, ND LEG reported bill approved by State's governor on Apr. 2, 2025.
