Title 10 — Corporations
47 chapters · 661 sections in this title.
N.D.C.C. § 10-34-01 Definitions
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In this chapter, unless the content otherwise requires: 1. "Real estate investment trust" means an unincorporated trust or association formed under this chapter under which property is acquired, held, managed, administered, controlled, invested, or disposed of by trustees for the…
N.D.C.C. § 10-34-02 Real estate investment trust authorized
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A real estate investment trust is a permitted form of an unincorporated trust or association and may conduct business in this state in accordance with this chapter.
N.D.C.C. § 10-34-02.1 Reservation of legislative right
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The legislative assembly reserves the right to amend or repeal the provisions of this chapter. A real estate investment trust formed under or governed by this chapter is subject to this reserved right.
N.D.C.C. § 10-34-03 Relationship to other laws
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1. This chapter does not limit any law as that law applies to the creation of or doing business in this state by a common-law trust, business trust, or Massachusetts trust. 2. A provision of this chapter is unenforceable if it makes a real estate investment trust unable to qualif…
N.D.C.C. § 10-34-04 Compliance with title - Registered office - Registered agent
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1. A real estate investment trust may not do business in this state until it complies with this title. 2. Each real estate investment trust shall continuously maintain a registered agent as provided by chapter 10-01.1, and if a noncommercial registered agent, then the address of …
N.D.C.C. § 10-34-05 Renewal of registration
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Any registration of a real estate investment trust filed under this chapter must be renewed every five years from the date of the initial filing. The statement of renewal must be executed by the real estate investment trust on forms prescribed and furnished by the secretary of st…
N.D.C.C. § 10-34-06 Service of process on real estate investment trust and nonresident trustees
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Any process, notice, or demand required or permitted by law to be served on the real estate investment trust or trustee may be served on the real estate investment trust and any nonresident trustee as provided in section 10-01.1-13.
N.D.C.C. § 10-34-07 Powers
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A real estate investment trust has the power to: 1. Unless the declaration of trust provides otherwise, have perpetual existence unaffected by any rule against perpetuities. 2. Sue, be sued, complain, and defend in all courts. 3. Transact its business, carry on its operations, an…
N.D.C.C. § 10-34-08 Restrictions on investments and use - Ownership of farmland prohibited
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1. A real estate trust shall hold at least seventy-five percent of the value of its assets in real estate assets, government securities, cash, and cash items, including receivables. 2. A real estate investment trust, whether domestic or foreign, may not own, use, or apply land wi…
N.D.C.C. § 10-34-09 Fees
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The secretary of state shall charge and collect the following fees with respect to real estate investment trusts: 1. Filing a registration of a real estate investment trust, one hundred ten dollars. 2. Filing any amendment changing the registered agent or registered office, the f…