North Dakota Code 10-33-125 – Foreign corporation – Governing law
1. Subject to the constitution of this state, the laws of the jurisdiction under which a foreign corporation is incorporated govern its incorporation and internal affairs. Nothing in this chapter authorizes this state to regulate the incorporation or internal affairs of a foreign corporation.
Terms Used In North Dakota Code 10-33-125
- 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.
- 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.
- 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
2. A foreign corporation may not be denied a certificate of authority to conduct activities in this state by reason of any difference between those laws and the laws of this state.
3. A foreign corporation holding a valid certificate of authority in this state has no greater rights and privileges than a corporation. The certificate of authority does not authorize the foreign corporation to exercise any of its powers or purposes that a corporation is forbidden by law to exercise in this state.