North Dakota § 6-03-45 - Preferred stock - Rights of holders - Nonassessable
Full text of North Dakota North Dakota Century Code § 6-03-45 — Preferred stock - Rights of holders - Nonassessable, with citation guidance and answers to common questions.
§ 6-03-45. Preferred stock - Rights of holders - Nonassessable
The holders of preferred stock are entitled to all rights and privileges and are subject to all limitations and restrictions with respect to dividends, voting, conversion rights, control of management, retirement and replacement of stock, rights and preferences in case of liquidation, and such other rights or privileges as may be fixed and provided in the articles of incorporation of the issuing institution. Preferred stock is nonassessable, and the holders thereof individually are not responsible as such holders for any debts, contracts, or engagements of the bank.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 6-03-45
What does North Dakota Century Code § 6-03-45 cover?
Section 6-03-45 ("Preferred stock - Rights of holders - Nonassessable") 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 § 6-03-45?
A common citation format is "North Dakota Century Code § 6-03-45" (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 § 6-03-45 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.