North Dakota § 40-02-15 - Division of property and indebtedness between municipality and township
Full text of North Dakota North Dakota Century Code § 40-02-15 — Division of property and indebtedness between municipality and township, with citation guidance and answers to common questions.
§ 40-02-15. Division of property and indebtedness between municipality and township
If a municipality is organized under the provisions of this chapter from territory which has been a part of a civil township, any property owned, and any debts owed, by the township prior to the separation shall be divided between the municipality and the township in the proportion which the valuation of the property in the municipality bears to the valuation of the property in the township. The valuations used shall be the valuations as equalized by the board of county commissioners at the last equalization previous to the separation. Real estate which is owned jointly shall belong to the municipality if it is situated therein, and in such case, the municipality shall pay to the township its proportion of the value thereof and shall assume its just proportion of any indebtedness thereon.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 40-02-15
What does North Dakota Century Code § 40-02-15 cover?
Section 40-02-15 ("Division of property and indebtedness between municipality and township") is part of the North Dakota Century Code, the codified statutory law of North Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Dakota § 40-02-15?
A common citation format is "North Dakota Century Code § 40-02-15" (North Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 40-02-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Dakota.