North Dakota Statutes
§ 40-02-15 — Division of property and indebtedness between municipality and township
North Dakota·Title 40 Municipal Government·Ch. 40-02 Incorporation of Municipalities in Unorganized Territory
If a municipality is organized under the provisions of this chapter from territory which has
been a part of a civil township, any property owned, and any debts owed, by the township prior
to the separation shall be divided between the municipality and the township in the proportion
which the valuation of the property in the municipality bears to the valuation of the property in
the township. The valuations used shall be the valuations as equalized by the board of county
commissioners at the last equalization previous to the separation. Real estate which is owned
jointly shall belong to the municipality if it is situated therein, and in such case, the municipality
shall pay to the township its proportion of the value thereof and shall assume its just proportion
of any indebtedness thereon.
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North Dakota § 40-02-15 (Division of property and indebtedness between municipality and township) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 40-01-01
Definitions§ 40-01-02
Municipalities are bodies corporate§ 40-01-04
Vested rights§ 40-01-09
Official newspaper of municipality§ 40-01-13
Payment of accounts by municipality