§ 7726. Bank Preferences
TITLE 1: GOVERNMENT DIVISION 7: PLANNING, BUDGETING AND AUDITING § 7726. Bank Preferences. (a) In determining where public funds may be deposited, the Director of Fi- nance shall give preference to banks operating in the Commonwealth that comply with 1 CMC § 7723 and offer the best possible interest rate for the term required. (b) The director shall give first preference to banks that comply with 1 CMC § 7723 and that offer housing, small business, agricultural or fishing develop- ment loans to Commonwealth residents at an interest rate the director deems favorable. Source: PL 4-33, § 6. Commission Comment: With respect to the references to the “Director of Finance,” see Executive Order 94-3 (effective August 23, 1994), reorganizing the executive branch, changing agency names and official titles, and effecting other changes, set forth in the Commission comment to 1 CMC § 2001.
Source: CNMI Law Revision Commission