Nothing herein contained shall be construed to prevent any stockholder from proving the stockholder’s right to the ownership of shares of stock in an action brought for that purpose in any court of record of this state. Any judgment of any such court shall not affect the validity or propriety of any action theretofore taken in good faith by the corporation on the basis of the new stock and transfer book at the time of such action.

Terms Used In North Dakota Code 10-29-05

  • 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

                                                                

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