This bill proposes the creation of a new section in chapter 21-06 of the North Dakota Century Code that prohibits the establishment and operation of natural asset companies within the state. A natural asset company is defined as a corporation that manages ecological performance and natural resources for purposes such as conservation and monetization of ecosystem services. The bill outlines several prohibitions, including the sale, lease, or encumbrance of state-owned land or resources to such companies, as well as the investment of public funds in them. Additionally, it prohibits any state or political subdivision from engaging in business with natural asset companies, including issuing bonds or approving projects involving them.

The bill also establishes legal recourse for violations, allowing affected parties, including the governor and private citizens, to file actions in district court. If a violation is found, ownership of the affected land would revert to the previous owner, and the court may award attorney's fees to the plaintiff. Furthermore, the bill mandates that the Secretary of State cannot accept corporate filings or amendments for natural asset companies, and any contracts made in violation of this section would be deemed void. Lastly, it requires investment managers or government officials to dispose of any prohibited investments immediately.