10-06.1-02. Farming or ranching by corporations and limited liability companies prohibited

10-06.1-02. Farming or ranching by corporations and limited liability companies prohibited. 1. All corporations and limited liability companies, except as otherwise provided in this chapter, are prohibited from owning or leasing farmland or ranchland and from engaging in the business of farming or ranching. 2. A corporation or a limited liability company may be a partner in a partnership under title 45 which owns or leases farmland or ranchland or engages in the business of farming or ranching only if that corporation or limited liability company complies with this chapter. 3. Notwithstanding any other provision of law, an authorized livestock farm corporation or authorized livestock farm limited liability company may not be a partner in a partnership under title 45 which owns or leases farmland or ranchland or engages in the business of farming or ranching.