A corporate surety is a corporation or limited liability company duly authorized under the laws of this state to transact a surety business therein.

Terms Used In North Dakota Code 1-01-45

  • 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.
  • 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