This bill proposes the creation of a new section in chapter 21-06 of the North Dakota Century Code that explicitly 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 encumbering land or resources to such companies, as well as banning public funds from being invested in them. Additionally, it prevents any bond offerings involving natural asset companies and voids any acquisitions of state-owned land by these entities.

The bill also establishes legal recourse for violations, allowing the governor, attorney general, or affected citizens to file actions in district court. If a violation is found, ownership of the affected land would revert to its 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 promptly dispose of any prohibited investments or funds related to natural asset companies.