North Dakota Code 10-32.1-67 – Domestication
1. A foreign limited liability company may become a limited liability company pursuant to this section, sections 10-32.1-67 through 10-32.1-71, and a plan of domestication if:
Terms Used In North Dakota Code 10-32.1-67
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Statute: A law passed by a legislature.
a. The governing statute of the foreign limited liability company authorizes the domestication; b. The domestication is not prohibited by the law of the jurisdiction that enacted the governing statute; and
c. The foreign limited liability company complies with its governing statute in effecting the domestication.
2. A limited liability company may become a foreign limited liability company pursuant to this section, sections 10-32.1-67 through 10-32.1-71, and a plan of domestication if:
a. The governing statute of the foreign limited liability company authorizes the domestication; b. The domestication is not prohibited by the law of the jurisdiction that enacted the governing statute; and
c. The foreign limited liability company complies with its governing statute in effecting the domestication.
3. A plan of domestication must be in a record and must include:
a. The name of the domesticating company before domestication and the jurisdiction of its governing statute; b. The name of the domesticated company after domestication and the jurisdiction of its governing statute; c. The terms and conditions of the domestication, including the manner and basis for converting interests in the domesticating company into any combination of money, interests in the domesticated company, and other consideration; and d. The originating record of the domesticated company.