North Dakota Code 10-30.6-07 – Obligation limitation
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The total obligations of the corporation may not exceed twenty times the amount of the paid-in capital and surplus, not including earned surplus.
Terms Used In North Dakota Code 10-30.6-07
- 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.