N.D. Cent. Code § 10-13-08.1
This is the official text of N.D. Cent. Code § 10-13-08.1, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-13-08.1. Electric cooperatives - Sale of physical plant - Approval
Official statutory text
10-13-08.1. Electric cooperatives - Sale of physical plant - Approval
No electric cooperative corporation shall sell, transfer, or convey, within the period of any
single calendar year, physical plant in excess of five percent in value of such cooperative
corporation, based upon the most recent audit of the books of said cooperative corporation,
unless consent therefor shall have been obtained by vote of not less than two-thirds of the entire
membership of such cooperative corporation cast at any regular or special meeting called for
that purpose, after notice in writing to all the membership of such cooperative corporation not
less than twenty nor more than thirty days prior to the date of such meeting. Nothing in this
section shall prohibit the sale, transfer, conveyance, or exchange of electric cooperative
corporation assets to another electric cooperative corporation, an agency of the state of North
Dakota or of the government of the United States, nor in exchange for physical plant of equal
monetary value to any person or organization, public or private.
No electric cooperative corporation shall sell, transfer, or convey, within the period of any
single calendar year, physical plant in excess of five percent in value of such cooperative
corporation, based upon the most recent audit of the books of said cooperative corporation,
unless consent therefor shall have been obtained by vote of not less than two-thirds of the entire
membership of such cooperative corporation cast at any regular or special meeting called for
that purpose, after notice in writing to all the membership of such cooperative corporation not
less than twenty nor more than thirty days prior to the date of such meeting. Nothing in this
section shall prohibit the sale, transfer, conveyance, or exchange of electric cooperative
corporation assets to another electric cooperative corporation, an agency of the state of North
Dakota or of the government of the United States, nor in exchange for physical plant of equal
monetary value to any person or organization, public or private.
Status: in_force · Read it on the official government site
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