North Dakota Code 28-01-33 – Actions against directors or stockholders of moneyed corporations or banking associations for statutory penalties or forfeiture – Limitation
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This chapter does not affect actions against directors or stockholders of a moneyed corporation or banking association to recover a penalty or forfeiture imposed, or to enforce a liability created, by law, but such actions must be brought within six years after the discovery by the aggrieved party of the facts upon which the penalty or forfeiture attached or the liability was created.
Terms Used In North Dakota Code 28-01-33
- 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.
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.