North Dakota Code 10-12-02 – Special requirements and powers
Mutual aid cooperatives are subject to the general law governing cooperatives, but shall also state in their articles the territory to be served by the cooperative, and shall have power to act as the agent or representative of any state, federal, or other agency, corporation, or limited liability company giving assistance to rural rehabilitation, subsistence farming, housing, or cooperative endeavors of any nature. Any cooperative that is hereafter organized under this chapter shall be known as a “mutual aid cooperative” and the word cooperative shall form a part of the name of each cooperative so organized. Any cooperative organized prior to July 1, 1957, and whose name does not include the term “mutual aid cooperative”, may at its option elect to change its name to include “mutual aid cooperative”.
Terms Used In North Dakota Code 10-12-02
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49