N.D. Cent. Code ch. 10-06.1 – Corporate or Limited Liability Company Farming | Midpage

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North Dakota Century Code

Chapter 10-06.1

N.D. Cent. Code ch. 10-06.1

Corporate or Limited Liability Company Farming

10-06.1-01Definitions 10-06.1-02Farming or ranching by corporations and limited liability companies prohibited 10-06.1-03Retention of mineral interests prohibited 10-06.1-04Conversion of corporations 10-06.1-05Conversion of limited liability company 10-06.1-06Surface coal mining - Exception 10-06.1-07Industrial and business purpose - Exception 10-06.1-08Cooperative corporations allowed to engage in the business of farming or ranching - Requirements 10-06.1-09Certain nonprofit organizations or trusts may own or lease land - Certain nonprofit organizations may continue farming or ranching - Restriction on acquisition and ownership of land 10-06.1-10Acquisition of certain farmland or ranchland by certain nonprofit organizations 10-06.1-11Required nonprofit organization divestiture of farmland or ranchland 10-06.1-12Farming or ranching corporation or farming or ranching limited liability company allowed to engage in the business of farming or ranching - Requirements 10-06.1-12.1Ownership or leasing of land by corporations - Exceptions 10-06.1-12.2Authorized livestock farm corporation or authorized livestock farm limited liability company allowed to engage in the business of farming or ranching - Requirements 10-06.1-13Applicability of North Dakota Business Corporation Act 10-06.1-14Applicability of North Dakota limited liability company laws 10-06.1-15Initial report - Farming or ranching corporation shareholder and farming or ranching limited liability member requirements 10-06.1-15.1Applicability of restriction on alien ownership of land 10-06.1-15.2Initial report - Authorized livestock farm corporation shareholder and authorized livestock farm limited liability company member requirements 10-06.1-16Share and membership interest transfer records 10-06.1-17Annual report - Farming or ranching corporations and farming or ranching limited liability companies - Contents - Filing requirements 10-06.1-17.1Annual report - Authorized livestock farm corporations and authorized livestock farm limited liability companies - Contents - Filing requirements 10-06.1-18Reports of corporations and limited liability companies not engaged in farming or ranching 10-06.1-19Exemption from certain disclosure and other requirements for certain organizations 10-06.1-20Failure to file report - Penalty 10-06.1-21Secretary of state to transmit information of noncompliance 10-06.1-22Tax commissioner to compare returns and reports 10-06.1-23Attorney general to conduct random compliance program 10-06.1-24Enforcement - Penalty 10-06.1-25Private enforcement 10-06.1-26Protection of minority shareholders 10-06.1-27Protection of minority members