North Dakota Code § 10-15-48

Property omitted from final distribution
Open in Lexace · Ask the AI about this section
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.

‹ Prev All North Dakota sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.