N.D. Cent. Code § 10-34-01
10-34-01. Definitions
10-34-01. Definitions
In this chapter, unless the content otherwise requires:
1. "Real estate investment trust" means an unincorporated trust or association formed
under this chapter under which property is acquired, held, managed, administered,
controlled, invested, or disposed of by trustees for the benefit and profit of any person
who may become a shareholder.
2. "Share" means a transferable unit of beneficial interest in a real estate investment
trust.