Community Bankers' Advisor

February, 2002 - Vol. 8, No. 1 i

 Page 1 

Welcome to the on-line
February 2002 issue of the
Community Bankers' Advisor
. . . . . . . . . . .

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 represent more than 30 banks throughout North Dakota.

Independent Community Banks of North Dakota

GOVERNMENTAL SUBPOENAS
OF BANK INFORMATION

     Most financial institutions will face, at some time, a governmental subpoena requesting customer information. Responding to a subpoena, which entails digging up, compiling, and mailing the requested information, is time-consuming and takes staff away from regular duties. Two separate North Dakota statutes provide that banks can charge for the work done in response to government subpoenas. N.D.C.C. § 6-03-76 addresses subpoenas by state or federal agencies or any branch of the state or federal government; however, the payment rates set out in N.D.C.C. § 6-03-76 are twenty years old and financial institutions might be better off bypassing the statute with the rather paltry reimbursement schedule.

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