N.D. Cent. Code § 10-19.1-01

10-19.1-01. Definitions

For purposes of this chapter, unless the context otherwise requires:

1. "Acquiring corporation" means the domestic or foreign corporation that acquires the

shares of a corporation in an exchange.

2. "Acquiring organization" means the foreign or domestic organization acquiring the

ownership interests of another foreign or domestic organization participating in an

exchange.

3. "Address" means:

a. In the case of a registered office or principal executive office, the mailing address,

including the zip code, of the actual office location, which may not be only a

post-office box; and

b. In any other case, the mailing address, including the zip code.

4. "Articles" means:

a. In the case of a corporation incorporated under or governed by this chapter,

articles of incorporation, articles of amendment, a resolution of election to

become governed by this chapter, a demand retaining the two-thirds majority for

shareholder approval of certain transactions, a statement of change of registered

office, registered agent, or name of registered agent, a statement establishing or

fixing the rights and preferences of a class or series of shares, a statement of

cancellation of authorized shares, articles of merger, articles of abandonment,

articles of conversion, and articles of dissolution.

b. In the case of a foreign corporation, the term includes all records serving a similar

function required to be filed with the secretary of state or other officer of the state

of incorporation of the foreign corporation.

5. "Authenticated electronic communication" means:

a. That the electronic communication is delivered:

(1) To the principal place of business of the corporation; or

(2) To an officer or agent of the corporation authorized by the corporation to

receive the electronic communication; and

b. That the electronic communication provides information from which the

corporation can reasonably conclude that the electronic communication was sent

by the purported sender.

6. "Ballot" means a written ballot or a ballot transmitted by electronic communications.

7. "Board" or "board of directors" means the board of directors of a corporation.

8. "Board member" means:

a. An individual serving on the board of directors in the case of a corporation; and

b. An individual serving on the board of governors in the case of a limited liability

company.

9. "Bylaws" means the code adopted for the regulation or management of the internal

affairs of a corporation, regardless of how that code is designated.

10. "Class", when used with reference to ownership interests, means a category of

ownership interests that differs in designation or one or more rights or preferences

from another category of ownership interests of the organization.

11. "Closely held corporation" means a corporation that does not have more than

thirty-five shareholders.

12. "Constituent corporation" means a corporation or a foreign corporation that:

a. In a merger, is either the surviving corporation or a foreign or domestic

corporation that is merged into the surviving organization; or

b. In an exchange, is either the acquiring corporation or a foreign or domestic

corporation whose shares are acquired by the acquiring organization.

13. "Constituent organization" means an organization that:

a. In a merger, is either the surviving organization or an organization that is merged

into the surviving organization; or

b. In an exchange, is either the acquiring organization or an organization whose

securities are acquired by the acquiring organization.

14. "Converted organization" means the organization into which a converting organization

converts pursuant to sections 10-19.1-104.1 through 10-19.1-104.6.

15. "Converting organization" means an organization that converts into another

organization pursuant to sections 10-19.1-104.1 through 10-19.1-104.6.
anization or an organization whose

securities are acquired by the acquiring organization.

14. "Converted organization" means the organization into which a converting organization

converts pursuant to sections 10-19.1-104.1 through 10-19.1-104.6.

15. "Converting organization" means an organization that converts into another

organization pursuant to sections 10-19.1-104.1 through 10-19.1-104.6.

16. "Corporation" or "domestic corporation" means a corporation, other than a foreign

corporation, organized for profit and incorporated under or governed by this chapter.

17. "Data address" means the string of alphanumeric characters on a distributed or other

electronic network or database which may be accessed only by knowledge or

possession of a private key to facilitate or record transactions on the distributed or

other electronic network or database.

18. "Director" means a member of the board.

19. "Distribution" means a direct or indirect transfer of money or other property, other than

its own shares, with or without consideration, or an incurrence or issuance of

indebtedness, by a corporation to any of its shareholders in respect of its shares, and

may be in the form of a dividend, an interim distribution, or a distribution in liquidation,

or as consideration for the purchase, redemption, or other acquisition of its shares, or

otherwise.

20. "Division" or "combination" means dividing or combining shares of a class or series,

whether issued or unissued, into a greater or lesser number of shares of the same

class or series.

21. "Domestic organization" means an organization created under the laws of this state.

22. "Electronic" means relating to technology having electrical, digital, magnetic, wireless,

optical, electromagnetic, or similar capabilities.

23. "Electronic communication" means any form of communication, not directly involving

the physical transmission of paper, including a process of communication which uses a

distributed or other electronic network or database, or that:

a. Creates a record that may be retained, retrieved, and reviewed by a recipient of

the communication; and

b. May be directly reproduced in paper form by the recipient through an automated

process.

24. "Electronic record" means a record created, generated, sent, communicated, received,

or stored by electronic means.

25. "Electronic signature" means an electronic sound, symbol, or process attached to or

logically associated with a record and signed or adopted by a person with the intent to

sign the record.

26. "Filed with the secretary of state" means, except as otherwise permitted by law or rule:

a. That a record meeting the applicable requirements of this chapter, together with

the fees provided in section 10-19.1-147, was delivered or communicated to the

secretary of state by a method or medium of communication acceptable by the

secretary of state and was determined by the secretary of state to conform to law.

b. That the secretary of state did then:

(1) Record the actual date on which the record was filed, and if different the

effective date of filing; and
r with

the fees provided in section 10-19.1-147, was delivered or communicated to the

secretary of state by a method or medium of communication acceptable by the

secretary of state and was determined by the secretary of state to conform to law.

b. That the secretary of state did then:

(1) Record the actual date on which the record was filed, and if different the

effective date of filing; and

(2) Record the record in the office of the secretary of state.

27. "Foreign corporation" means a corporation organized for profit which is incorporated

under laws other than the laws of this state for a purpose for which a corporation may

be incorporated under this chapter.

28. "Foreign limited liability company" means a limited liability company organized under

laws other than the laws of this state for a purpose for which a limited liability company

may be organized under chapter 10-32.1.

29. "Foreign organization" means an organization created under laws other than the laws

of this state for a purpose for which an organization may be created under the laws of

this state.

30. "Good faith" means honesty in fact in the conduct of an act or transaction.

31. "Governing body" means for an organization that is:

a. A corporation, its board of directors;

b. A limited liability company, its board of governors; or

c. Any other organization, the body selected by its owners that has the ultimate

power to determine the policies of the organization and to control its policies.

32. "Governing statute" of an organization means:

a. With respect to a domestic organization, the following chapters of this code which

govern the internal affairs of the organization:

(1) If a corporation, then this chapter;

(2) If a limited liability company, then chapter 10-32.1;

(3) If a general partnership, then chapters 45-13 through 45-21;

(4) If a limited partnership, then chapter 45-10.2;

(5) If a limited liability partnership, then chapter 45-22; and

(6) If a limited liability limited partnership, then chapter 45-23; and

b. With respect to a foreign organization, the laws of the jurisdiction under which the

organization is created and under which the internal affairs of the organization are

governed.

33. "Identity" means the name of a shareholder or the data address for which the

shareholder has knowledge or possession of the private key uniquely associated with

the data address.

34. "Intentionally" means that the person referred to has a purpose to do or fail to do the

act or cause the result specified or believes that the act or failure to act, if successful,

will cause that result. A person "intentionally" violates a statute:

a. If the person intentionally does the act or causes the result prohibited by the

statute; or

b. If the person intentionally fails to do the act or cause the result required by the

statute, even though the person may not know of the existence or constitutionality

of the statute or the scope or meaning of the terms used in the statute.

35. "Legal representative" means a person empowered to act for another person,

including an agent, a manager, an officer, a partner, or an associate of an organization;

a trustee of a trust; a personal representative; a trustee in bankruptcy; and a receiver,

guardian, custodian, or conservator.

36. "Limited liability company" or "domestic limited liability company" means a limited

liability company, other than a foreign limited liability company, organized under or

governed by chapter 10-32.1.

37. "Network signature" means a string of alphanumeric characters which when

broadcasted by a shareholder to the data address's corresponding distributed or other

electronic network or database provides reasonable assurances to a corporation that

the shareholder has knowledge or possession of the private key uniquely associated

with the data address.

38. "Nonprofit corporation" means a corporation, whether domestic or foreign,
ing of alphanumeric characters which when

broadcasted by a shareholder to the data address's corresponding distributed or other

electronic network or database provides reasonable assurances to a corporation that

the shareholder has knowledge or possession of the private key uniquely associated

with the data address.

38. "Nonprofit corporation" means a corporation, whether domestic or foreign,

incorporated under or governed by chapter 10-33.

39. "Notice":

a. Is given by a shareholder of a corporation to the corporation or an officer of the

corporation:

(1) When in writing and mailed or delivered to the corporation or the officer at

the registered office or principal executive office of the corporation; or

(2) When given by a form of electronic communication consented to by the

corporation to which the notice is given if by:

(a) Facsimile communication, when directed to a telephone number at

which the corporation has consented to receive notice.

(b) Electronic mail, when directed to an electronic mail address at which

the corporation has consented to receive notice.

(c) Posting on an electronic network on which the corporation has

consented to receive notice, together with separate notice to the

corporation of the specific posting, upon the later of:

[1] The posting; or

[2] The giving of the separate notice.

(d) Any other form of electronic communication by which the corporation

has consented to receive notice, when directed to the corporation.

b. Is given by a publicly held corporation to a shareholder:

(1) If the notice is addressed to the shareholder or group of shareholders in a

manner permitted by the rules and regulations under the Securities

Exchange Act of 1934, as amended, provided that the corporation has first

received any affirmative written consent or implied consent required under

those rules and regulations;

(2) When an electronic transmission has been made to a data address provided

by the shareholder; or

(3) When electronically transmitted to the shareholder in a manner by which the

shareholder has consented, when directed to the shareholder.

c. Is given, in all other cases:

(1) When mailed to the person at an address designated by the person or at the

last-known address of the person;

(2) When deposited with a nationally recognized overnight delivery service for

overnight delivery or, if overnight delivery to the person is not available, for

delivery as promptly as practicable to the person at an address designated

by the person or at the last-known address of the person;

(3) When handed to the person;

(4) When left at the office of the person with a clerk or other person in charge of

the office or:

(a) If there is no one in charge, when left in a conspicuous place in the

office; or

(b) If the office is closed or the person to be notified has no office, when

left at the dwelling house or usual place of abode of the person with

some person of suitable age and discretion then residing there;

(5) When given by a form of electronic communication consented to by the

person to whom the notice is given if by:

(a) Facsimile communication, when directed to a telephone number at

which the person has consented to receive notice.

(b) Electronic mail, when directed to an electronic mail address at which

the person has consented to receive notice.

(c) Posting on an electronic network on which the person has consented

to receive notice, together with separate notice to the person of the

specific posting, upon the later of:

[1] The posting; or

[2] The giving of the separate notice.
erson has consented to receive notice.

(b) Electronic mail, when directed to an electronic mail address at which

the person has consented to receive notice.

(c) Posting on an electronic network on which the person has consented

to receive notice, together with separate notice to the person of the

specific posting, upon the later of:

[1] The posting; or

[2] The giving of the separate notice.

(d) Any other form of electronic communication by which the person has

consented to receive notice, when directed to the person; or

(6) When the method is fair and reasonable when all of the circumstances are

considered.

d. Is given by mail when deposited in the United States mail with sufficient postage

affixed.

e. Is given by deposit for delivery when deposited for delivery as provided in

paragraph 2 of subdivision c, after having made sufficient arrangements for

payment by the sender.

f. Is deemed received when it is given.

40. "Officer" means an individual who is eighteen years of age or more who is:

a. Elected, appointed, or otherwise designated as the president, the treasurer, or

any other officer pursuant to section 10-19.1-52; or

b. Deemed elected as an officer pursuant to section 10-19.1-56.

41. "Organization":

a. Means, whether domestic or foreign, a corporation, limited liability company,

general partnership, limited partnership, limited liability partnership, limited liability

limited partnership, or any other person subject to a governing statute; but

b. Excludes:

(1) A nonprofit corporation, whether a domestic nonprofit corporation which is

incorporated under chapter 10-33 or a foreign nonprofit corporation which is

incorporated in another jurisdiction; and

(2) A nonprofit limited liability company, whether a domestic nonprofit limited

liability company which is organized under chapter 10-36 or a foreign

nonprofit limited liability company which is organized in another jurisdiction.

42. "Originating records" means for an organization that is:

a. A corporation, its articles of incorporation;

b. A limited liability company, its articles of organization;

c. A limited partnership, its certificate of limited partnership;

d. A limited liability partnership, its registration; or

e. A limited liability limited partnership, its certificate of limited liability limited

partnership.

43. "Outstanding shares" means all shares duly issued and not reacquired by a

corporation.

44. "Owners" means the holders of ownership interests in an organization.

45. "Ownership interests" means for a domestic or foreign organization that is:

a. A corporation, its shares;

b. A limited liability company, its membership interests;

c. A limited partnership, its partnership interests;

d. A general partnership, its partnership interests;

e. A limited liability partnership, its partnership interests;

f. A limited liability limited partnership, its partnership interests; or

g. Any other organization, its governance or transferable interests.

46. "Parent" of a specified organization means an organization that directly, or indirectly

through related organizations, owns more than fifty percent of the voting power of the

ownership interests entitled to vote for directors or other members of the governing

body of the specified organization.

47. "Principal executive office" means:

a. If the corporation has an elected or appointed president, then an office where the

elected or appointed president of a corporation has an office; or

b. If the corporation has no elected or appointed president, then the registered office

of the corporation.

48. "Publicly held corporation" means a corporation that has a class of equity securities

registered pursuant to section 12 of the Securities Exchange Act of 1934 [15 U.S.C.

78L], or is subject to section 15(d) of the Securities Exchange Act of 1934 [15 U.S.C.

78o(d)].

49. "Record" means information that is inscribed on a tangible medium or that is stored in
stered office

of the corporation.

48. "Publicly held corporation" means a corporation that has a class of equity securities

registered pursuant to section 12 of the Securities Exchange Act of 1934 [15 U.S.C.

78L], or is subject to section 15(d) of the Securities Exchange Act of 1934 [15 U.S.C.

78o(d)].

49. "Record" means information that is inscribed on a tangible medium or that is stored in

an electronic or other medium and is retrievable in perceivable form.

50. "Record of shareholders" means a record administered by or on behalf of a

corporation and which records the identity of all the corporation's shareholders and the

number and class of shares held by each shareholder in accordance with section