North Dakota § 10-33-95 Certain assets not to be diverted

North Dakota Statutes

§ 10-33-95 — Certain assets not to be diverted

North Dakota § 10-33-95

Title 10Corporations

Ch. 10-33Nonprofit Corporations

This text of North Dakota § 10-33-95 (Certain assets not to be diverted) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 10-33-95 (2026).

Text

If a corporation dissolves, merges, substantially changes the use or purposes for which the
corporation will use corporate assets, consolidates, transfers corporate assets, or grants a
mortgage or other security interest in corporate assets, assets of the corporation or a
constituent corporation and assets subsequently received by a single corporation after a merger
or consolidation may not be diverted from the uses and purposes for which the assets were
received and held or from the uses and purposes expressed or intended by the original donor.

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If a corporation dissolves, merges, substantially changes the use or purposes for which the
corporation will use corporate assets, consolidates, transfers corporate assets, or grants a
mortgage or other security interest in corporate assets, assets of the corporation or a
constituent corporation and assets subsequently received by a single corporation after a merger
or consolidation may not be diverted from the uses and purposes for which the assets were
received and held or from the uses and purposes expressed or intended by the original donor.