This bill proposes the creation of a new section in 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 with the intent to monetize their value. The bill outlines several restrictions, including prohibiting the state or its political subdivisions from selling, leasing, or otherwise engaging in business with natural asset companies, as well as forbidding public funds from being invested in such companies. Additionally, any acquisition of land or rights to land by a natural asset company is deemed void.

The legislation also establishes enforcement mechanisms, allowing various state officials and affected citizens to file actions in district court against violations. 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, ensuring that no such entities can operate within North Dakota. Contracts made in violation of this section are declared void, and investment managers or government officials are required to dispose of any prohibited investments immediately.