Title 10, Corporations

1. A business limited liability company regulated under chapter 10-32.1 may convert to a farming or ranching limited liability company or an authorized livestock farm limited liability company by adopting an amendment to its articles of organization or by applying for an amended …

A corporation or limited liability company not engaged in the business of farming or ranching may own or lease farmland or ranchland, when the business of the corporation or limited liability company is conducting surface coal mining operations or related energy conversion, and w…

A corporation or limited liability company that is not engaged in the business of farming or ranching may own or lease farmland or ranchland when the land is necessary for residential or commercial development; the siting of buildings, plants, facilities, industrial parks, or sim…

This chapter does not prohibit cooperative corporations, seventy-five percent of whose members or shareholders are actual farmers or ranchers residing on farms or ranches or depending principally on farming or ranching for their livelihood, from acquiring farmland or ranchland an…

1. A nonprofit organization or a trust for the benefit of an individual or a class of individuals related within the degrees of kinship specified in subsection 2 of section 10-06.1-12 may own or lease farmland or ranchland if that land is leased to a person who farms or ranches t…

A nonprofit organization may acquire farmland or ranchland only in accordance with the following: 1. Unless it is permitted to own or lease farmland or ranchland under section 10-06.1-09, the nonprofit organization must have been either incorporated in this state or issued a cert…

In addition to the divestiture requirements of sections 10-06.1-10 and 10-06.1-24, a nonprofit organization that acquires farmland or ranchland by gift or devise after December 31, 1984, the ownership of which is not permitted under this chapter, shall divest itself of the land w…

This chapter does not prohibit a farming or ranching corporation or a farming or ranching limited liability company from owning or leasing farmland or ranchland and engaging in the business of farming or ranching, if the corporation meets all the requirements of chapter 10-19.1 o…

Disapproved by R.M. June 14, 2016.

This chapter does not prohibit an authorized livestock farm corporation or an authorized livestock farm limited liability company from owning or leasing farmland or ranchland and engaging in the business of farming or ranching if the authorized livestock farm corporation meets al…

Chapter 10-19.1 is applicable to farming or ranching corporations and authorized livestock farm corporations, which have the powers and privileges and are subject to the duties, restrictions, and liabilities of other business corporations except when inconsistent with the intent …

Chapter 10-32.1 is applicable to farming or ranching limited liability companies and authorized livestock farm limited liability companies, which have the powers and privileges and are subject to the duties, restrictions, and liabilities of other business limited liability compan…

1. Every farming or ranching corporation or farming or ranching limited liability company shall file an initial report with its articles of incorporation, articles of organization, or certificate of authority. The report must be signed by the incorporators or organizers or, in th…

The provisions of chapter 47-10.1 take precedence in the event of any conflict with this chapter.

1. Every authorized livestock farm corporation or authorized livestock farm limited liability company shall file an initial report with its articles of incorporation, articles of organization, or certificate of authority. The report must be signed by the incorporators or organize…

1. a. Every corporation owning or leasing farmland or ranchland or engaged in the business of farming or ranching shall keep a record of transfers of shares or transfers of interests in the corporation. b. Every limited liability company owning or leasing farmland or ranchland or…

1. Except for the first annual report, the annual report of a farming or ranching corporation or a farming or ranching limited liability company engaged in the business of farming or ranching must be delivered to the secretary of state before April sixteenth of each year. The fir…

1. Except for the first annual report, the annual report of an authorized livestock farm corporation or authorized livestock farm limited liability company must be delivered to the secretary of state before April sixteenth of each year. The first annual report must be delivered b…

Any business corporation, limited liability company, or nonprofit organization not engaged in the business of farming or ranching which owns or leases a tract of farmland or ranchland which is larger than twenty acres [8.09 hectares] in size shall file with the attorney general, …

Sections 10-06.1-12, 10-06.1-15, 10-06.1-15.2, 10-06.1-17, 10-06.1-17.1, and 10-06.1-18 do not apply to nonprofit organizations or to corporations or limited liability companies such as banks, trust companies, or foundations serving in a fiduciary capacity as the personal represe…

Every corporation or limited liability company that willfully fails to file any report required under this chapter or willfully files false information on any report required under this chapter is guilty of a class A misdemeanor.

If the secretary of state finds from the annual report that the corporation or limited liability company is not in compliance with the requirements of section 10-06.1-12 or 10-06.1-12.2, the secretary of state shall transmit the information to the attorney general and the governo…

Each year the tax commissioner shall select at random at least five percent of the income tax returns filed by corporations or limited liability companies which report on income from engaging in the business of farming or ranching and shall compare the returns with the annual rep…

Each year the attorney general shall select at random at least five percent of the total number of corporations and limited liability companies authorized under this chapter for requests for information to determine compliance with this chapter. For this purpose, the attorney gen…

1. a. The recorder shall mail or deliver a copy of every instrument filed or recorded, within thirty days after the instrument is recorded, to the attorney general if the instrument documents evidence of a lease agreement or purchase agreement pursuant to subsection 6 or 7 or if …

This chapter may be enforced in the same manner as provided in section 10-06.1-24 by any corporation or limited liability company authorized to engage in the business of farming or ranching under this chapter or any resident of legal age of a county in which the farmland or ranch…

1. If a shareholder owns less than fifty percent of the shares of a farming or ranching corporation or authorized livestock farm corporation engaged in the business of farming or ranching under this chapter, and if the terms and conditions for the repurchase of those shares by th…

1. If a member owns less than fifty percent of the membership interest of a farming or ranching limited liability company or authorized livestock farm limited liability company engaged in the business of farming or ranching under this chapter and if the terms and conditions for t…