N.D. Cent. Code § 10-15-23
This is the official text of N.D. Cent. Code § 10-15-23, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
10-15-23. Missing securities or records
Official statutory text
10-15-23. Missing securities or records
1. When a security issued by a cooperative is missing, the cooperative shall issue a
duplicate security if the owner so requests and furnishes an indemnity acceptable to
the cooperative.
2. When records showing ownership of securities or apportionment of equity interest in
the assets are missing and the information therein contained is necessary to a
proposed redemption of the interest, the cooperative may give notice and redeem as
follows:
a. The cooperative shall set aside an amount equal to the value of the interests to
be redeemed.
b. The cooperative shall give notice of such redemption to all owners of interests of
which the cooperative has knowledge.
c. If there are interests, the ownership of which is unknown to the cooperative, it
shall publish notice of the redemption at least once a month for four months both
in a publication circulated among members of cooperatives in the area, if any,
and in a newspaper of general circulation in the area.
d. Any unclaimed outstanding interest represented by the missing records may then
be terminated in accordance with section 10-15-34.1.
1. When a security issued by a cooperative is missing, the cooperative shall issue a
duplicate security if the owner so requests and furnishes an indemnity acceptable to
the cooperative.
2. When records showing ownership of securities or apportionment of equity interest in
the assets are missing and the information therein contained is necessary to a
proposed redemption of the interest, the cooperative may give notice and redeem as
follows:
a. The cooperative shall set aside an amount equal to the value of the interests to
be redeemed.
b. The cooperative shall give notice of such redemption to all owners of interests of
which the cooperative has knowledge.
c. If there are interests, the ownership of which is unknown to the cooperative, it
shall publish notice of the redemption at least once a month for four months both
in a publication circulated among members of cooperatives in the area, if any,
and in a newspaper of general circulation in the area.
d. Any unclaimed outstanding interest represented by the missing records may then
be terminated in accordance with section 10-15-34.1.
Status: in_force · Read it on the official government site
Need a lawyer in North Dakota?
Find a North Dakota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.