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Current as of January 01, 2024 | Updated by Findlaw Staff
If a corporation dissolves, merges, substantially changes the use or purposes for which the corporation will use corporate assets, consolidates, transfers corporate assets, or grants a mortgage or other security interest in corporate assets, assets of the corporation or a constituent corporation and assets subsequently received by a single corporation after a merger or consolidation may not be diverted from the uses and purposes for which the assets were received and held or from the uses and purposes expressed or intended by the original donor.
Cite this article: FindLaw.com - North Dakota Century Code Title 10. Corporations § 10-33-95. Certain assets not to be diverted - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-10-corporations/nd-cent-code-sect-10-33-95/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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