Dissolution of school district - Unobligated cash balance - Distribution
N.D. Cent. Code § 15.1-12-28
in effect15.1-12-28. Dissolution of school district - Unobligated cash balance - Distribution
1. Any unobligated cash balance not exceeding ten thousand dollars must be held in a
separate fund by the auditor of the county having the greatest share of the dissolved
school district's land. The county auditor shall hold the fund for one year after the
effective date of the dissolution. During that year, the county auditor shall accept
assets and pay unresolved debts attributable to the dissolved school district.
2. After one year, the county auditor shall distribute the remaining cash balance as
follows:
a. If the dissolving school district did not have sufficient funds for the reimbursement
account set up under section 15.1-12-28.1, then as much of the remaining cash
balance as would be necessary to pay the estimated obligation to job service
North Dakota must be deposited in the reimbursement account. Unless otherwise
directed by the order of dissolution, any remaining cash balance must be
distributed to the receiving school districts in the same percentage as the taxable
valuation received at the time of the attachment order.
b. If the reimbursement account in section 15.1-12-28.1 was fully funded by the
dissolving school district, the county auditor shall distribute the remaining cash
balance among the school districts to which the real property of the dissolved
district was attached. Unless otherwise directed by the order of dissolution, the
distribution to each shall be the same percentage as the taxable valuation at the
time of the attachment order.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t15-1c12.pdf#nameddest=15p1-12-28Fetched: 10/16/2026