When minor may disaffirm or avoid transaction
N.D. Cent. Code § 14-10.1-03
in effect14-10.1-03. When minor may disaffirm or avoid transaction
A minor, who has transferred a security; received or empowered others to receive
dividends, interest, principal, or other payments or distributions; voted or given consent in
person or by proxy; or made an election or exercised rights relating to the security, has no right
thereafter, as against a bank, broker, issuer, third party, or transfer agent to disaffirm or avoid
the transaction, unless prior to acting in the transaction the bank, broker, issuer, third party, or
transfer agent against whom the transaction is sought to be disaffirmed or avoided had received
notice in the office acting in the transaction that the specific security is held by a minor or unless
an individual conducting the transaction for the bank, broker, issuer, third party, or transfer agent
had actual knowledge of the minority of the holder.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t14c10-1.pdf#nameddest=14-10p1-03Fetched: 10/16/2026