ND SB2373

Amends Section 61-40-09 of the North Dakota Century Code regarding default procedures for the western area water supply authority.

Changes the state's authority in default situations from discretionary ("may give written notice") to mandatory ("shall take") possession and ownership of the authority's water system and liabilities.

Specifies that if the authority defaults on a Bank of North Dakota loan, the state water commission shall request funding from the legislative assembly to repay the principal and interest due.

Automatically removes governing board members upon written notice and replaces them with the state water commission as the governing board.

Allows the state water commission to develop a plan to return governance, possession, and ownership to the authority, subject to approval by the legislative assembly (instead of the budget section).