N.D. Cent. Code § 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.