25.1105.01000
Sixty-ninth
Legislative Assembly
of North Dakota
Introduced by
Representatives Warrey, Longmuir, Mitskog, Motschenbacher, Schneider, Stemen
Senators Axtman, Davison, Thomas
A BILL for an Act to amend and reenact section 40-11-04.2 of the North Dakota Century Code,
relating to the transfer of real property by exclusive and nonexclusive listing agreements.
BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA:
SECTION 1. AMENDMENT. Section 40-11-04.2 of the North Dakota Century Code is
amended and reenacted as follows:
40-11-04.2. Transfer of real property by exclusive and nonexclusive listing
agreements.
1.As an alternative to the procedure established under section 40-11-04.1, the governing
body of a city may by resolution describe:
a.Describe the real property of the city which is to be sold; provide
b.Provide a maximum rate of fee, compensation, or commission; and provide
c.Provide that the city reserves the right to reject any and all offers determined to
be insufficient.
2.After adoption of the resolution, the governing body of a city may engage licensed real
estate brokers to attempt to sell the described property by way of nonexclusive listing
agreements or by way of an exclusive listing agreement if the real estate broker is
selected through a competitive process.
Page No. 1 25.1105.01000
HOUSE BILL NO. 1401
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