North Dakota Code 30.1-31-03 – (6-202) Limitation on scope of sections 30.1-31-02 through 30.1-31-20
Current as of: 2023 | Check for updates
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Sections 30.1-31-03 through 30.1-31-20 do not apply to:
Terms Used In North Dakota Code 30.1-31-03
- 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.
- Fiduciary: A trustee, executor, or administrator.
- 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
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
1. An account established for a partnership, joint venture, limited liability company, or other organization for a business purpose; 2. An account controlled by one or more persons as an agent or trustee for a corporation, limited liability company, unincorporated association, or charitable or civic organization; or 3. A fiduciary or trust account in which the relationship is established other than by the terms of the account.