North Dakota Code 2-08-01 – Definitions
The following words, terms, and phrases, when used in this chapter, have the meaning ascribed to them in this section, except where the context clearly indicates a different meaning:
Terms Used In North Dakota Code 2-08-01
- 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.
- following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
1. “Aircraft” includes airplanes and helicopters.
2. “Aircraft dealer” means every person, partnership, association, corporation, or limited liability company engaged in the business of buying, selling, leasing, or exchanging more than three aircraft in any twelve consecutive months, except for a business liquidation of used aircraft, or who advertises or holds out to the public as being engaged in the business of buying, selling, leasing, or exchanging of aircraft. Any person, partnership, association, corporation, or limited liability company doing business in several locations or airports must be considered a separate dealer in each location.
3. “Ultralight vehicle dealer” means every person, partnership, association, corporation, or limited liability company engaged in the business of buying, selling, leasing, or exchanging more than two ultralight vehicles in any twelve consecutive months, or who advertises or holds out to the public as being engaged in the business of buying, selling, leasing, or exchanging of ultralight vehicles. Any person, partnership, association, corporation, or limited liability company doing business in several locations must be considered a separate dealer at each location.
4. “Ultralight vehicles” means piloted vehicles which are flown in airspace and are not required by the federal aviation administration to have a federal certificate of airworthiness. All other piloted ultralight vehicles required to have a federal experimental airworthiness certificate are defined as aircraft.