North Dakota Code 10-33-85 – Merger, consolidation, or transfer
Current as of: 2023 | Check for updates
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1. Two or more corporations may merge or consolidate, resulting in a single corporation subject to this chapter. A merger or consolidation must be made as provided in sections 10-33-86 through 10-33-92.
Terms Used In North Dakota Code 10-33-85
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes property, real and personal. See North Dakota Code 1-01-49
2. A corporation may sell, lease, transfer, or dispose of all or substantially all of its property and assets under section 10-33-94.
3. If applicable, a corporation shall comply with sections 10-33-122 and 10-33-144 before the corporation may merge, consolidate, sell, lease, transfer, or dispose of all or substantially all of the corporation’s assets.