This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Convertible Note Cap Table in North Dakota

Under North Dakota law, the treatment of convertible notes on a cap table is governed by N.D. Cent. Code § 10-19.1-66, which addresses the conversion terms and shareholder rights. The statute sets out the framework for how convertible instruments affect ownership percentages and voting power upon conversion. It provides rules for determining when and how conversion occurs, including any adjustments to the conversion ratio. The official source at https://www.legis.nd.gov/cencode/t10c19-1.pdf contains the exact provisions. A worked example below demonstrates how these rules apply in a typical conversion scenario. To estimate your own cap table impact, use the DocketMath calculator with your specific note terms.

Governing authority

In North Dakota, the convertible note cap table rule is set by N.D. Cent. Code § 10-19.1-66. The verified packet cites N.D. Cent. Code § 10-19.1-66 (https://www.legis.nd.gov/cencode/t10c19-1.pdf).

North Dakota convertible note cap table: governed by N.D. Cent. Code § 10-19.1-66. The verified packet cites N.D. Cent. Code § 10-19.1-66 (https://www.legis.nd.gov/cencode/t10c19-1.pdf).

Estimate your own result: every situation has exceptions that can change the outcome. Use the convertible note cap table calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.