North Dakota Code 10-15-46 – Involuntary dissolution
1. A cooperative may be dissolved involuntarily by a decree of the district court where the principal office or registered agent is located in an action commenced by the attorney general when any of the following is established:
Terms Used In North Dakota Code 10-15-46
- following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
- Fraud: Intentional deception resulting in injury to another.
a. The cooperative’s certificate of association was procured through fraud.
b. The cooperative has continued to exceed or abuse the authority conferred upon it by this chapter.
c. The cooperative failed to comply with a court order for the production of books, records, or other documents of the cooperative as provided in section 10-15-35.
2. If the cooperative cures its defaults under subdivision c of subsection 1 prior to the entry of the court’s final decree and pays all penalties and court costs that have accrued, the claim for relief with respect to the defaults so cured will abate.