The surplus fund of any association organized under this title, in an amount not exceeding one hundred percent of its capital stock, is exempt from taxation and must not be taken into account in determining the taxable value of the shares of stock of the association.
N.D. Cent. Code § 6-03-35
Surplus fund exempt from taxation
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.