North Dakota § 10-15-48 Property omitted from final distribution

North Dakota Statutes

§ 10-15-48 — Property omitted from final distribution

North Dakota·Title 10 Corporations·Ch. 10-15 Cooperative Associations

1.Upon filing the articles or decree of dissolution, title to any property omitted from the final distribution vests in the surviving directors or committee members who signed the articles, as trustees. They have all the powers of the cooperative with respect to such property and shall distribute the property or its proceeds to the persons beneficially entitled thereto.

2.When no trustee can be found, the district court of the county where the property is located has power to appoint trustees upon application of any person having an interest in such property or its disposition.

3.Any trustee may at any time make application to the proper district court for supervision of liquidation pursuant to section 10-15-47.

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1. Upon filing the articles or decree of dissolution, title to any property omitted from the
final distribution vests in the surviving directors or committee members who signed the
articles, as trustees. They have all the powers of the cooperative with respect to such
property and shall distribute the property or its proceeds to the persons beneficially
entitled thereto.
2. When no trustee can be found, the district court of the county where the property is
located has power to appoint trustees upon application of any person having an
interest in such property or its disposition.
3. Any trustee may at any time make application to the proper district court for
supervision of liquidation pursuant to section 10-15-47.

North Dakota § 10-15-48 (Property omitted from final distribution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.