1.    Every authorized livestock farm corporation or authorized livestock farm limited liability company shall file an initial report with its articles of incorporation, articles of organization, or certificate of authority. The report must be signed by the incorporators or organizers, or in the case of a certificate of authority, an authorized person, and must contain the following:

a.    The name of the authorized livestock farm corporation or authorized livestock farm limited liability company.

b.    With respect to each shareholder or member:

(1) The name and address of each; (2) If a person other than an individual, the state of incorporation, organization, or domicile; (3) The number of shares or membership interests or percentage of shares or membership interests of each; (4) Each person’s percentage of total shares entitled to vote or membership interests entitled to vote; and whether any voting agreement exists; (5) Each person’s percentage of total capital and financial interests; (6) As to individuals, a statement of whether each is a citizen or permanent resident alien of the United States; (7) As to individuals, a statement of whether each will be actively engaged in the business of farming or ranching; and

(8) As to a person other than an individual, a statement of whether the person, and any controlling person of the person, is incorporated in the United States and one hundred percent of the stock or interests is owned by citizens of the United States, permanent aliens of the United States, or individuals or persons in compliance with section 47-10.1-02. c.    With respect to management:

(1) If an authorized livestock farm corporation, the names and addresses of the officers and members of the board of directors, and a statement whether each will be actively engaged in the operation of the corporation; or

(2) If an authorized livestock farm limited liability company, the names and addresses of the managers, members of the board of governors, and members authorized under a statement of authority, and a statement whether each will be actively engaged in the operation of the limited liability company.

d.    A statement that the authorized livestock farm corporation or authorized livestock farm limited liability company does not own, lease, or hold any interest in more than one hundred sixty acres [64.75 hectares] of farmland or ranchland.

e.    If the purchase or lease of farmland or ranchland is final at the time of the initial report, a statement listing the acreage [hectarage] and location listed by section, township, range, and county of all farmland or ranchland in which the authorized livestock farm corporation or authorized livestock farm limited liability company has an ownership, leasehold, or other interest. If the purchase or lease of farmland or ranchland is not final at the time of the initial report, a statement that    there is a bona fide and imminent intent and a plan to purchase or lease farmland or ranchland.

f.    A statement that no shareholders or members hold a direct or indirect interest in other authorized livestock farm corporations or authorized livestock farm limited liability companies that in combination with the corporation or limited liability company own, lease, or hold any interest in more than six hundred forty acres [259 hectares] of farmland or ranchland. An interest disclosed under this subdivision does not include the number of acres of farmland or ranchland directly owned or leased by shareholders or members that are individuals, farming or ranching corporations, farming or ranching limited liability companies, or partnerships that meet the requirements of subsection 2 of section 10-06.1-02.

g.    A statement that at least sixty-five percent of the gross income of the authorized livestock farm corporation or authorized livestock farm limited liability company will be derived from authorized livestock farm operations, and that twenty percent or less of the gross income of the corporation or limited liability company will be from nonfarm rent, nonfarm royalties, dividends, interest, and annuities.

h.    A statement that the authorized livestock farm corporation or authorized livestock farm limited liability company will not engage in the production of crops or the grazing of livestock on farmland or ranchland.

i.    If the authorized livestock farm corporation facility or authorized livestock farm limited liability company facility is not operational, a statement as to the planned date of the commencement of facility operations.

2.    An authorized livestock farm corporation or authorized livestock farm limited liability company may not commence farming or ranching in this state until the secretary of state has received and filed the initial report required by this section and the articles of incorporation, articles of organization, or certificate of authority.

3.    The authorized livestock farm corporation or authorized livestock farm limited liability company shall furnish to the official county newspaper of each county in which it has an interest in farmland or ranchland a legal notice reporting the following:

a.    The name of the authorized livestock farm corporation or authorized livestock farm limited liability company and its shareholders or members as listed in the initial report.

b.    A statement that the authorized livestock farm corporation or authorized livestock farm limited liability company has reported that it holds an interest in farmland or ranchland in the county, the use of the land, and that a description of that land is available for inspection at the office of the secretary of state.

c.    A statement that each of the shareholders of the authorized livestock farm corporation or members of the authorized livestock farm limited liability company do not hold a direct or indirect interest in authorized livestock farm corporations or authorized livestock farm limited liability companies that in aggregate, own, lease, or otherwise hold an interest in more than six hundred forty acres [259 hectares] of farmland or ranchland. An interest disclosed under this subdivision does not include the number of acres of farmland or ranchland directly owned or leased by shareholders or members that are individuals, farming or ranching corporations, farming or ranching limited liability companies, or partnerships that meet the requirements of subsection 2 of section 10-06.1-02.