North Dakota Code 10-34-08 – Restrictions on investments and use – Ownership of farmland prohibited
Current as of: 2023 | Check for updates
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1. A real estate trust shall hold at least seventy-five percent of the value of its assets in real estate assets, government securities, cash, and cash items, including receivables.
Terms Used In North Dakota Code 10-34-08
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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 real estate investment trust, whether domestic or foreign, may not own, use, or apply land within this state for farming or ranching as defined in section 10-06.1-01. A violation of this subsection is deemed a violation of chapter 10-06.1. A real estate investment trust is subject to chapter 10-06.1.