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News from NDBA





         NDBA Welcomes Kennedy as                                NDBA retains professional legal counsel for the purpose of helping
                                                                 to implement the association’s legislative program, to provide
         Associate General Counsel                               legal advice to the association, and to interpret banking law and
                                                                 regulations as they affect North Dakota’s banking industry.  Within
         NDBA  President  and CEO  Rick                          reason, NDBA’s legal counsel also assists banks with legal, regulatory,
         Clayburgh announced Tracy Kennedy                       and compliance inquiries as part of the NDBA membership.  If it
         will  represent the association  as                     is a single bank situation, the bank is asked to refer the question to
         associate general counsel.  Kennedy,                    its own attorney.
         a partner at the law firm of Zimney                     “It is always difficult to face a transition for an individual like
         Foster P.C., Grand Forks, has devoted                   Marilyn who has made such a difference for NDBA, our members
         her practice to banking and finance law,
         creditor’s rights, agricultural lending                 and our industry.  Marilyn has vast banking knowledge and is highly
                                                                 respected,” added Clayburgh.  “We feel the same about Tracy.  With
         and secured credit transactions.
                                                                 both Marilyn’s and Tracy’s high standards, we know the transition to
         Kennedy began working with NDBA                         a new general counsel will be efficient and effective.” n
         effective Jan. 15, 2018, and will take
         over the full duties of general counsel                 Foss Announces Retirement
         June 30, 2018, when Marilyn Foss, NDBA general counsel, retires.
         Kennedy is on retainer and will serve NDBA and NDBA members   Effective June 30
         from her Grand Forks law office.
                                                                 Marilyn Foss, NDBA General Counsel,
         “Tracy has  extensive legal experience  in  the  banking  arena.  We   has been involved in North Dakota’s
         look forward to having her expertise benefit North Dakota banks   banking industry for over 45 years.  She
         on behalf of NDBA,” said Clayburgh.  “Tracy is well-known and   worked for her first bank, Red River
         respected by North Dakota’s banking community so she is a natural   National Bank &  Trust Company of
         fit for us.”                                            Grand Forks, starting in 1973. She has
         Kennedy currently teaches banking law and agricultural financial   been a member of the NDBA family for
         topics at the Dakota School of Banking, which is sponsored by   more than 24 years and is well-known
         NDBA. She is an adjunct faculty member at the University of North   for her extensive banking knowledge
         Dakota School of Law, where she has been teaching UCC Article 9   and as an effective advocate for North
         Secured Transactions and Commercial Paper and Payment systems   Dakota banks in the legislative arena.
         for over a decade. For over 15 years, Kennedy has presented many   Foss recently announced to NDBA management and the Board of
         seminars to various legal and lending organizations in commercial   Directors that she will retire effective June 30, 2018.
         law  topics  such  as  loan  documentation,  UCC,  loan  workouts,
         agricultural liens, collection law, foreclosures, and bankruptcy.  During her distinguished career, Foss served as North Dakota
                                                                 Department of Financial Institutions Commissioner, assisted
         “I am excited about the opportunity to be a part of an organization   troubled banks in the 1980s while in private practice, and did
         dedicated to the strength and prosperity of North Dakota banks   extensive work on UCC revisions, as well as led effective legislative
         and their customers,” said Kennedy. “I believe that a solid banking
         economy is essential to our communities and I am happy to be    lobbying efforts that have greatly benefitted North Dakota banks,
                                                                 according to NDBA President and CEO Rick Clayburgh.
         part of a team that positively impacts banks, customers and our
         communities.”                                           “Marilyn has been a trusted advisor to NDBA and North Dakota
                                                                 banks  and  we  owe  her  a  tremendous  amount  of  gratitude  and
         Kennedy also expressed appreciation to General Counsel Marilyn
         Foss for being a strong role model. “She has made a difference in my   appreciation for her service,” Clayburgh said.  “She understands the
         career. Marilyn has been an amazing mentor, not only to me, but   complexity of the financial industry and cares deeply about North
         for many young professionals. She is the ultimate role model in the   Dakota’s banks.”
         way she shares knowledge and shows interest and care.”  “I am not rushing off, I will be here for several more months,” Foss
                                                                 said. “We have a really good transition plan in place.  I look forward to
         Foss will remain the first point-of-contact for NDBA members
         through June and will work with Kennedy through the transition.    working with Rick and Tracy Kennedy as we move toward June 30.”
         Foss and Kennedy will both attend the NDBA Legislative Committee   More details will be forthcoming regarding acknowledgement
         meeting on May 11 where work will begin in preparation of the   and appreciation of Marilyn’s service to North Dakota’s banking
         2019 North Dakota Legislative Session.                  industry. n




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