North Dakota Century Code Title 10. Corporations § 10-19.1-68. Fractional shares

1. A corporation may issue fractions of a share originally or upon transfer.  If it does not issue fractions of a share, then it shall in connection with an original issuance of shares:

2. A corporation may not pay money for fractional shares if that action would result in the cancellation of more than twenty percent of the outstanding shares of a class or series.  A determination by the board of the fair value of fractions of a share is conclusive in the absence of fraud.  A certificated or uncertificated fractional share, and any scrip or warrants if expressly provided, entitles the shareholder to exercise voting rights or receive distributions.  The board may cause scrip or warrants to be issued subject to the condition the scrip or warrants become void if not exchanged for full shares before a specified date, or that the shares for which scrip or warrants are exchangeable may be sold by the corporation and the proceeds distributed to the holder of the scrip or warrants, or to any other condition or set of conditions the board may impose.