N.D. Cent. Code § 6-03-45
This is the official text of N.D. Cent. Code § 6-03-45, 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.
6-03-45. Preferred stock - Rights of holders - Nonassessable
Official statutory text
6-03-45. Preferred stock - Rights of holders - Nonassessable
The holders of preferred stock are entitled to all rights and privileges and are subject to all
limitations and restrictions with respect to dividends, voting, conversion rights, control of
management, retirement and replacement of stock, rights and preferences in case of liquidation,
and such other rights or privileges as may be fixed and provided in the articles of incorporation
of the issuing institution. Preferred stock is nonassessable, and the holders thereof individually
are not responsible as such holders for any debts, contracts, or engagements of the bank.
The holders of preferred stock are entitled to all rights and privileges and are subject to all
limitations and restrictions with respect to dividends, voting, conversion rights, control of
management, retirement and replacement of stock, rights and preferences in case of liquidation,
and such other rights or privileges as may be fixed and provided in the articles of incorporation
of the issuing institution. Preferred stock is nonassessable, and the holders thereof individually
are not responsible as such holders for any debts, contracts, or engagements of the bank.
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.