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Current as of January 01, 2024 | Updated by Findlaw Staff
Any corporation or limited liability company organized for irrigation purposes, unless otherwise provided in its articles of incorporation or bylaws, may levy assessments upon its capital stock whether or not such stock is paid in full. If any shares of stock of any such corporation or membership interests of any such limited liability company, which have been made appurtenant to any land as provided in section 61-13-03, become delinquent in the payment of assessments, the right to receive water thereunder or through dividends on such stock or membership interests may be denied and such shares or membership interests may be forfeited to the corporation or limited liability company.
Cite this article: FindLaw.com - North Dakota Century Code Title 61. Waters § 61-13-04. Assessments may be levied upon capital stock - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-61-waters/nd-cent-code-sect-61-13-04/
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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