57-23-2. Definitions.
As used in this chapter:
(1) "Cooperative" means a form of coownership of real estate in which: the fee interest in the real estate is held by a corporation, partnership, trust, or other legal entity; an individual's interest in the cooperative is evidenced in a form such as stock, participation shares, membership certificates, or similar instrument; and the participating individual's right of occupancy is demonstrated by a proprietary lease or similar instrument.
(2) "Division" means the Division of Real Estate of the Department of Commerce.