North Dakota Code 10-31-03 – Applicability of chapter 10-19.1
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Chapter 10-19.1 applies to a professional organization that is created in the form of a corporation and which enjoys the powers and privileges and is subject to the duties, restrictions, and liabilities of other corporations except when inconsistent with the letter and purpose of this chapter. This chapter takes precedence in the event of any conflict with chapter 10-19.1.
Terms Used In North Dakota Code 10-31-03
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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