47-10.1-01. Definitions

47-10.1-01. Definitions In this chapter, unless the context or subject matter otherwise requires: 1. "Agricultural land" means land capable of use in the production of agricultural crops, livestock or livestock products, poultry or poultry products, milk or dairy products, or fruit and other horticultural products but does not include any land zoned by a local governmental unit for a use other than, and nonconforming with, agricultural use, but does not include any oil, gas, coal, or other minerals underlying the land, any interest in minerals, separate from the surface, whether acquired by lease or otherwise, or any easements or tracts of land acquired in connection with the extraction, refining, processing, or transportation of minerals. 2. "Controlling interest" means: a. Possession of fifty-one percent or more of the ownership interests in an entity; or b. A percentage ownership interest in an entity of less than fifty-one percent, if the foreign government actually directs the business and affairs of the entity without the requirement or consent of any other party. 3. "Foreign government" means a government or the state-controlled enterprise of a foreign government. The term does not include the government of the United States or its states, territories, or possessions or the government of Canada or its provinces or territories. 4. "Foreign governmental interest in agricultural land" includes the purchase, acquisition, or possession of any absolute or qualified ownership of land by a foreign government, except does not include a leasehold interest. 5. "Interest in agricultural land" includes any leasehold interest. 6. "State-controlled enterprise" means a business enterprise, however denominated, in which a foreign government has a controlling interest.