NDAC 81-09-02-09
Definition of arm's length contract
Cite as N.D. Admin. Code ยง 81-09-02-09
As used in North Dakota Century Code chapter 57-51, "arm's length contract" means a contract or
agreement executed by a willing buyer and a willing seller, neither party being affiliated. For purposes
of this definition, a contract or agreement between affiliated parties is any contract or agreement
between a parent and a wholly or partially owned subsidiary, or between entities wholly or partially
owned by a common parent, or between persons otherwise affiliated through ownership or economic
relationships.