North Dakota Code 26.1-22-01 – Definitions
In this chapter, unless the context otherwise requires:
Terms Used In North Dakota Code 26.1-22-01
- 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.
- Property: includes property, real and personal. See North Dakota Code 1-01-49
- 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
- Statute: A law passed by a legislature.
- United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
- year: means twelve consecutive months. See North Dakota Code 1-01-33
1. “Fund” means the state fire and tornado fund.
2. “Indirect loss” means a loss in income or the additional expenses incurred because of a property loss.
3. “International peace garden” means an entity located upon the international boundary line between the United States and Canada used and maintained as a memorial to commemorate the long-existing relationship of peace and good will between the people and the governments of the United States and Canada and to further international peace among the nations of the world.
4. “Permanent contents” refers only to such public property, either owned or leased, usually kept or used in or about public buildings insured in the fund, and to all public personal property usually kept or used in or about all buildings used for public purposes, or within one hundred feet [30.48 meters] of all such buildings, or while on sidewalks, streets, alleys, yards, detached platforms, and in or on railway cars. The term includes similar property owned by an international peace garden or a winter show. The term does not include automobiles, trucks, tractors, road machinery, or similar property used principally outside such buildings.
5. “Political subdivision” means all counties, townships, park districts, school districts, cities, and any other units of local government which are created either by statute or by the Constitution of North Dakota for local government or other public purposes.
6. “Replacement cost” is the cost to replace a building or its permanent contents with a similar structure of like materials or a similar product at current prices.
7. “Winter show” means an agricultural exhibition sponsored each year in March by a nonprofit corporation.