North Dakota § 22-01-12 Limitations upon obligation of guarantor

North Dakota Statutes

§ 22-01-12 — Limitations upon obligation of guarantor

North Dakota § 22-01-12

Title 22Guaranty, Indemnity, and Suretyship

Ch. 22-01Guaranty

This text of North Dakota § 22-01-12 (Limitations upon obligation of guarantor) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 22-01-12 (2026).

Text

The obligation of a guarantor must be neither larger in amount, nor in other respects more
burdensome, than that of the principal. A stockholder or partner of any entity, including a limited
liability company, business corporation, professional corporation, and partnership, may enter
into a separate contract of guaranty for the real estate mortgage debt of the entity. If in its terms
the obligation exceeds that of the principal, the obligation is reducible in proportion to the
principal obligation.

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The obligation of a guarantor must be neither larger in amount, nor in other respects more
burdensome, than that of the principal. A stockholder or partner of any entity, including a limited
liability company, business corporation, professional corporation, and partnership, may enter
into a separate contract of guaranty for the real estate mortgage debt of the entity. If in its terms
the obligation exceeds that of the principal, the obligation is reducible in proportion to the
principal obligation.