Section 40-05-26 - [Expired Effective 8/1/2025] Development by a foreign adversary - Prohibition1. A board of city commissioners or city council, including a board or council in a home rule city, may not procure, authorize, or approve a development agreement, building plan, or proposal relating to city development with an individual or government identified as a foreign adversary under 15 C FR 7.4(a) or a person identified on the office of foreign assets control sanctions list.2. This section does not apply to a foreign adversary as defined in subsection 1 possessing an interest in real property if the foreign adversary:a. Is a duly registered business and has maintained a status of good standing with the secretary of state for seven years or longer before August 1, 2023;b. Has been approved by the committee on foreign investment in the United States; andc. Maintains an active national security agreement with the federal government.Added by S.L. 2023, ch. 109 (SB 2371),§ 2, eff. 8/1/2023, exp. 8/1/2025.