North Dakota Code 10-30.5-01 – Definitions
As used in this chapter, unless the context otherwise requires:
Terms Used In North Dakota Code 10-30.5-01
- 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
1. “Board of directors” means the board of directors of the corporation.
2. “Corporation” means the North Dakota development fund, incorporated, established under this chapter.
3. “North Dakota business” means a business owned by a North Dakota resident, partnership, association, corporation, or limited liability company domiciled in this state or a corporation or limited liability company, including a wholly owned subsidiary of a foreign corporation or limited liability company that does business primarily in this state or does substantially all of its production in this state.
4. “Primary sector business” has the meaning provided in section 1-01-49 and includes tourism but does not include production agriculture.
5. “Production agriculture” means the production of crops and livestock on or near a farm as part of the regular farm enterprise directed by a farm operator and the farm operator’s partners. The term does not include an investor-owned livestock feeding or milking operation located apart from a farm headquarters which is managed by employees.