Welcome to the on-line
December issue of the
Community Bankers' Advisor
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The Advisor is
prepared by attorneys at Olson & Burns, P.C. to provide information
pertaining to legal developments affecting the field of banking.
In order to accomplish this objective, we welcome any comments
our readers have regarding the content and format of this publication.
Please address your comments to:
Community Bankers' Advisor
c/o
Olson & Burns, P.C.
PO Box 1180
Minot, ND 58702-1180
email: Olson & Burns P.C.
The attorneys
at Olson & Burns represent a wide range of clients in the financial
and commercial areas. Our attorneys have expertise in banking
regulations, employment law, bank charter issues, bankruptcy,
commercial paper, real estate, probate, and UCC matters. |
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You are asking . . .
Q.
For the purpose of filing a financing statement, may a
debtor grant a power of attorney to a lending institution?
A.
North Dakota law does not prohibit or place any restrictions
on a debtor's ability to grant a power of attorney for the purpose
of filing a financing statement. This includes granting the power
of attorney to a lending institution. However, this procedure
is generally not practiced in the State of North Dakota.
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