§ 10-06.1-01 Definitions
§ 10-06.1-02 Farming or ranching by corporations and limited liability companies prohibited
§ 10-06.1-03 Retention of mineral interests prohibited
§ 10-06.1-04 Conversion of corporations
§ 10-06.1-05 Conversion of limited liability company
§ 10-06.1-06 Surface coal mining – Exception
§ 10-06.1-07 Industrial and business purpose – Exception
§ 10-06.1-08 Cooperative corporations allowed to engage in the business of farming or ranching – Requirements
§ 10-06.1-09 Certain nonprofit organizations or trusts may own or lease land – Certain nonprofit organizations may continue farming or ranching – Restriction on acquisition and ownership of land
§ 10-06.1-10 Acquisition of certain farmland or ranchland by certain nonprofit organizations
§ 10-06.1-11 Required nonprofit organization divestiture of farmland or ranchland
§ 10-06.1-12 Farming or ranching corporation or farming or ranching limited liability company allowed to engage in the business of farming or ranching – Requirements
§ 10-06.1-12.2 Authorized livestock farm corporation or authorized livestock farm limited liability company allowed to engage in the business of farming or ranching – Requirements
§ 10-06.1-13 Applicability of North Dakota Business Corporation Act
§ 10-06.1-14 Applicability of North Dakota limited liability company laws
§ 10-06.1-15 Initial report – Farming or ranching corporation shareholder and farming or ranching limited liability member requirements
§ 10-06.1-15.1 Applicability of restriction on alien ownership of land
§ 10-06.1-15.2 Initial report – Authorized livestock farm corporation shareholder and authorized livestock farm limited liability company member requirements
§ 10-06.1-16 Share and membership interest transfer records
§ 10-06.1-17 Annual report – Farming or ranching corporations and farming or ranching limited liability companies – Contents – Filing requirements
§ 10-06.1-17.1 Annual report – Authorized livestock farm corporations and authorized livestock farm limited liability companies – Contents – Filing requirements
§ 10-06.1-18 Reports of corporations and limited liability companies not engaged in farming or ranching
§ 10-06.1-19 Exemption from certain disclosure and other requirements for certain organizations
§ 10-06.1-20 Failure to file report – Penalty
§ 10-06.1-21 Secretary of state to transmit information of noncompliance
§ 10-06.1-22 Tax commissioner to compare returns and reports
§ 10-06.1-23 Attorney general to conduct random compliance program
§ 10-06.1-24 Enforcement – Penalty
§ 10-06.1-25 Private enforcement
§ 10-06.1-26 Protection of minority shareholders
§ 10-06.1-27 Protection of minority members

Terms Used In North Dakota Code > Chapter 10-06.1 - Corporate or Limited Liability Company Farming

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
  • children: includes children by birth and by adoption. See North Dakota Code 1-01-18
  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Devise: To gift property by will.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • 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
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Individual: means a human being. See North Dakota Code 1-01-49
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. 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
  • Process: means a writ or summons issued in the course of judicial proceedings. See North Dakota Code 1-01-49
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • 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
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
  • year: means twelve consecutive months. See North Dakota Code 1-01-33