N.D. Cent. Code § 10-33-04
This is the official text of N.D. Cent. Code § 10-33-04, 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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10-33-04. Purposes
Official statutory text
10-33-04. Purposes
1. Unless otherwise limited in its articles, a corporation has a general purpose of
engaging in any lawful nonprofit activity.
2. A corporation may be incorporated under this chapter for any lawful nonprofit purpose,
unless another statute requires incorporation under a different law. A corporation of
this type engaging in conduct that is regulated by another statute is subject to the
limitations of the other statute, except it may not:
a. Be formed for a purpose involving pecuniary gain to its members, other than to
members that are nonprofit organizations, subdivisions, units, or agencies of the
United States, a state, or a local government; or
b. Pay dividends or other pecuniary remuneration, directly or indirectly, to its
members, excluding members that are nonprofit organizations or subdivisions,
units, or agencies of the United States, a state, or a local government.
1. Unless otherwise limited in its articles, a corporation has a general purpose of
engaging in any lawful nonprofit activity.
2. A corporation may be incorporated under this chapter for any lawful nonprofit purpose,
unless another statute requires incorporation under a different law. A corporation of
this type engaging in conduct that is regulated by another statute is subject to the
limitations of the other statute, except it may not:
a. Be formed for a purpose involving pecuniary gain to its members, other than to
members that are nonprofit organizations, subdivisions, units, or agencies of the
United States, a state, or a local government; or
b. Pay dividends or other pecuniary remuneration, directly or indirectly, to its
members, excluding members that are nonprofit organizations or subdivisions,
units, or agencies of the United States, a state, or a local government.
Status: in_force · Read it on the official government site
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