10-33-105. Distribution of assets

10-33-105. Distribution of assets 1. In performing the duties under section 10-33-100, the board, or the officers acting under the direction of the board, shall distribute the assets of the corporation in the following order of priority: a. Distribution of assets received and held for a special use or purpose under subsection 2; b. Payment of costs and expenses of the dissolution proceedings, including attorney's fees and disbursements; c. Payment of debts, obligations, and liabilities of the corporation; d. Distribution of assets pursuant to articles or bylaws of the dissolving corporation or the rules or canons of another organization under subsection 3; and e. Distribution of remaining assets under subsection 4. 2. Assets of the corporation may not be diverted from the uses and purposes for which the assets have been received and held or from the uses and purposes expressed or intended by the original donor. 3. When the articles or bylaws of the dissolving corporation, or the rules or canons of another organization by which the dissolving corporation is bound, provide for a particular distribution of the assets of the dissolving corporation, the assets must be distributed accordingly. 4. The distribution of assets held for or devoted to a charitable or public use or purpose is subject to section 59-20-01.