North Dakota Century Code Title 10. Corporations § 10-35-03. Application and effect of chapter

1. This chapter applies only to a publicly traded corporation meeting the definition of a “publicly traded corporation” in section 10-35-02 during such time as its articles state that it is governed by this chapter.

2. The existence of a provision of this chapter does not of itself create any implication that a contrary or different rule of law is or would be applicable to a corporation that is not a publicly traded corporation. This chapter does not affect any statute or rule of law as it applies to a corporation that is not a publicly traded corporation.

3. A provision of the articles or bylaws of a publicly traded corporation may not be inconsistent with any provision of this chapter.

4. The computation of a percentage of shares owned beneficially or of record by a person or group of persons for purposes of this chapter or chapter 10-19.1 shall be based on the number of outstanding shares of the publicly traded corporation shown most recently in a filing by the corporation with the commission under the Exchange Act.