N.D. Cent. Code § 6-05-07

6-05-07. Election of directors - Appointment and bonds of officers

An annual election must be held at the principal office or place of business of the

corporation, which must be within this state, upon a day to be fixed by the articles of the

corporation, and notice of such election must be given by registered or certified mail at least ten

days prior to such date, or by publication in a newspaper published in the county in which the

corporation has its principal place of business. At such meeting, the directors must be elected,

and in case of a failure to elect on that day or on a day to which such annual meeting may be

adjourned, the directors whose regular terms do not then expire shall proceed to elect such

number of directors as have failed of election, and any vacancy in the office of director may be

filled by the board until the next annual meeting. The board of directors, at its next meeting

following the election of directors and after such directors have qualified, shall elect from its

number a president, vice president, and such other officers as may be necessary to the

transaction of the business of the corporation. The board shall define the powers, authority, and

duties of such officers and employees by bylaws or resolutions, fix the conditions, form, and

amount of their bonds, and approve the same, but no such officer or employee may enter upon

the discharge of the person's duties until such bond has been approved and has been filed with

and approved by the commissioner.