The bill amends several sections of the North Dakota Century Code to clarify and update regulations regarding corporate and limited liability company farming and ranching. Key changes include the definition of "farming or ranching," which now explicitly includes "livestock" in the context of services provided by processors or distributors. Additionally, the bill specifies that all shareholders and members of authorized livestock farm corporations and limited liability companies must be U.S. citizens or permanent residents, and it requires detailed reporting on ownership structures, including the percentage of shares or membership interests held by individuals and entities.

Further amendments streamline reporting requirements for authorized livestock farm corporations and limited liability companies, including the need to disclose the aggregate number of membership interests and shares, as well as the engagement of individuals in farming or ranching activities. The bill also emphasizes compliance with ownership limitations, stating that these entities cannot own or lease more than 160 acres of farmland or ranchland, and it mandates transparency regarding any interests in other farming entities. Overall, the bill aims to ensure that corporate farming practices align with state regulations and promote responsible agricultural management.

Statutes affected:
INTRODUCED: 10-06.1-01, 10-06.1-12.2, 10-06.1-15.2, 10-06.1-17, 10-06.1-17.1
Prepared by the Legislative Council staff for Senator Mathern: 10-06.1-01, 10-06.1-12.2, 10-06.1-15.2, 10-06.1-17, 10-06.1-17.1
Enrollment: 10-06.1-01, 10-06.1-12.2, 10-06.1-15.2, 10-06.1-17, 10-06.1-17.1