N.D. Cent. Code § 10-19.1-64
This is the official text of N.D. Cent. Code § 10-19.1-64, 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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10-19.1-64. Rights to purchase
Official statutory text
10-19.1-64. Rights to purchase
1. "Right to purchase" means the right, however designated, pursuant to the terms of a
security or agreement, entitling a person to subscribe to, purchase, or acquire
securities of a corporation, whether by the exchange or conversion of other securities,
or by the exercise of options, warrants, or other rights, or otherwise, but excluding
pre-emptive rights.
2. Rights to purchase may be either transferable or nontransferable and either separable
or inseparable from other securities of the corporation, as the board may determine
under this section.
3. A corporation may issue rights to purchase after the terms, provisions, and conditions
of the rights to purchase to be issued, including the conversion basis or the price at
which securities may be purchased or subscribed for, are fixed by the board or by an
officer pursuant to board authorization, subject to any restrictions in the articles.
4. The instrument or written agreement evidencing the right to purchase must set forth in
full, summarize, or incorporate by reference all the terms, provisions, and conditions
applicable to the right to purchase.
1. "Right to purchase" means the right, however designated, pursuant to the terms of a
security or agreement, entitling a person to subscribe to, purchase, or acquire
securities of a corporation, whether by the exchange or conversion of other securities,
or by the exercise of options, warrants, or other rights, or otherwise, but excluding
pre-emptive rights.
2. Rights to purchase may be either transferable or nontransferable and either separable
or inseparable from other securities of the corporation, as the board may determine
under this section.
3. A corporation may issue rights to purchase after the terms, provisions, and conditions
of the rights to purchase to be issued, including the conversion basis or the price at
which securities may be purchased or subscribed for, are fixed by the board or by an
officer pursuant to board authorization, subject to any restrictions in the articles.
4. The instrument or written agreement evidencing the right to purchase must set forth in
full, summarize, or incorporate by reference all the terms, provisions, and conditions
applicable to the right to purchase.
Status: in_force · Read it on the official government site
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