North Dakota Code 26.1-50-01 – Definitions
Current as of: 2023 | Check for updates
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As used in this chapter:
Terms Used In North Dakota Code 26.1-50-01
- 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.
- Individual: means a human being. 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
1. “Fund” means the North Dakota low-risk incentive fund.
2. “Governing board” means the board of directors of the corporation or board of governors of the limited liability company established under section 26.1-50-02.
3. “Insurer” means any foreign or domestic corporation, association, benefit society, exchange, partnership, limited liability company, or individual engaged as principal in the business of insurance in this state.
4. “Primary sector business” has the meaning provided in section 1-01-49.