North Dakota Code 57-38.6-01 – Definitions
As used in this chapter, unless the context otherwise requires:
Terms Used In North Dakota Code 57-38.6-01
- 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.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- 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
- Individual: means a human being. See North Dakota Code 1-01-49
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
- Property: includes property, real and personal. See North Dakota Code 1-01-49
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. “Agricultural commodity processing facility” means:
a. A facility that through processing involving the employment of knowledge and labor adds value to an agricultural commodity capable of being raised in this state; or
b. A livestock feeding, handling, milking, or holding operation that uses as part of its operation a byproduct produced at a biofuels production facility.
2. “Biofuels production facility” means a corporation, limited liability company, partnership, individual, or association in this state:
a. Involved in production of diesel fuel containing at least five percent biodiesel or green diesel as defined in section 57-43.2-01; b. Involved in the production of corn-based ethanol or cellulose-based ethanol; or
c. Involved in a soybean or canola crushing facility.
3. “Director” means the director of the department of commerce division of economic development and finance.
4. “Passthrough entity” has the same meaning as in section 57-38-01.
5. “Qualified business” means a cooperative, corporation, partnership, or limited liability company that:
a. Is incorporated or organized in this state after December 31, 2000, for the primary purpose of being an agricultural commodity processing facility; b. Has been certified by the securities commissioner to be in compliance under the securities laws of this state; and
c. Has an agricultural commodity processing facility, or intends to locate one, in this state.
6. “Qualified investment” means an investment in cash or an investment of a fee simple interest in real property located in this state. For purposes of this chapter, the definition of real property does not include any personal property that may become a fixture to the real property, as defined by chapter 41-09, which is added to the real property following investment of the real property in the qualified business.
7. “Taxpayer” means an individual, estate, trust, corporation, or passthrough entity.