N.D. Cent. Code § 10-33-108

10-33-108. Procedure in involuntary or supervised voluntary dissolution

1. In dissolution proceedings the court may issue injunctions, appoint receivers with all

powers and duties the court directs, take other actions required to preserve the

corporate assets wherever situated, and carry on the activities of the corporation until

a full hearing can be held.

2. When a proceeding involving a corporation described in subsection 1 of section

10-33-122 is begun, the court shall order that a copy of the petition be served on the

attorney general. In all proceedings under this section, the attorney general has a right

to participate as a party.

3. After a full hearing has been held, upon whatever notice the court directs to be given

to all parties to the proceedings and to any other parties in interest designated by the

court, the court may appoint a receiver to collect the corporate assets. A receiver has

authority, subject to the order of the court, to continue the activities of the corporation

and to sell, lease, transfer, or otherwise dispose of all or any of the property and

assets of the corporation either at public or private sale.

4. The assets of the corporation or the proceeds resulting from a sale, lease, transfer, or

other disposition must be applied in the following order of priority to the payment and

discharge of:

a. Assets received and held for a special use or purpose must be distributed

pursuant to subsection 2 of section 10-33-105;

b. The costs and expenses of the proceedings, including attorney's fees and

disbursements;

c. Debts, taxes, and assessments due the United States, this state and its

subdivisions, and other states and their subdivisions, in that order;

d. Claims duly proved and allowed to employees under title 65. Claims under this

subdivision may not be allowed if the corporation carried workforce safety and

insurance coverage, as provided by law, at the time the injury was sustained;

e. Claims, including the value of all compensation paid in any medium other than

money, duly proved and allowed to employees for services performed within three

months preceding the appointment of the receiver, if any; and

f. Other claims duly proved and allowed.

5. After payment of the expenses of receivership and claims of creditors duly proved, the

remaining assets, if any, must be distributed in accordance with section 10-33-105.