North Dakota Code 45-22-07 – Unauthorized assumption of limited liability partnership powers – Liability
Current as of: 2023 | Check for updates
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A person who assumes to act as a limited liability partnership knowing that a registration is not in effect is jointly and severally liable for all debts and liabilities incurred or arising as a result.
Terms Used In North Dakota Code 45-22-07
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49