Public-domain · open source
OpenJurist

N.D. Cent. Code § 10-15-48

Property omitted from final distribution

Known as the North Dakota Cooperative Association Act

The act spans §§ 10–10 (80 sections).

1. Upon filing the articles or decree of dissolution, title to any property omitted from the final distribution vests in the surviving directors or committee members who signed the articles, as trustees. They have all the powers of the cooperative with respect to such property and shall distribute the property or its proceeds to the persons beneficially entitled thereto.

2. When no trustee can be found, the district court of the county where the property is located has power to appoint trustees upon application of any person having an interest in such property or its disposition.

3. Any trustee may at any time make application to the proper district court for supervision of liquidation pursuant to section 10-15-47.

Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.