N.D. Cent. Code § 10-31-07
This is the official text of N.D. Cent. Code § 10-31-07, 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.
10-31-07. Issuance and transfer of shares
Official statutory text
10-31-07. Issuance and transfer of shares
A professional organization in the form of a corporation may issue its shares only to persons
who are licensed to render the same specific professional services as those for which the
corporation was incorporated or as provided by section 10-31-07.1. A shareholder may
voluntarily transfer shares in a professional corporation only to a person owning or eligible to
own the same type of shares as the person making the transfer. The issuance of any shares in
violation of this section is void. The voluntary transfer of any shares in violation of this section is
void. No share may be transferred upon the books of the professional corporation or issued by
the professional corporation until there is presented to and filed with the corporation a certificate
from the regulating board stating that the person to whom the transfer is to be made or the
share issued is licensed to render the same specific professional services as those for which the
corporation was incorporated.
A professional organization in the form of a corporation may issue its shares only to persons
who are licensed to render the same specific professional services as those for which the
corporation was incorporated or as provided by section 10-31-07.1. A shareholder may
voluntarily transfer shares in a professional corporation only to a person owning or eligible to
own the same type of shares as the person making the transfer. The issuance of any shares in
violation of this section is void. The voluntary transfer of any shares in violation of this section is
void. No share may be transferred upon the books of the professional corporation or issued by
the professional corporation until there is presented to and filed with the corporation a certificate
from the regulating board stating that the person to whom the transfer is to be made or the
share issued is licensed to render the same specific professional services as those for which the
corporation was incorporated.
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.