§ 45-10.2-41 — (405) Actions by and against partnership and partners

North Dakota § 45-10.2-41

• Jurisdiction: North Dakota
• Title 45: Partnerships
• Ch. 45-10.2: Uniform Limited Partnership Act

Text

1. To the extent not inconsistent with section 45-10.2-40, a general partner may be joined
in an action against the limited partnership or named in a separate action.

2. A judgment against a limited partnership is not by itself a judgment against a general
partner. A judgment against a limited partnership may not be satisfied from assets of a
general partner unless there is also a judgment against the general partner.
3. A judgment creditor of a general partner may not levy execution against the assets of
the general partner to satisfy a judgment based on a claim against the limited
partnership, unless the partner is personally liable for the claim under section
45-10.2-40, and:
a. A judgment based on the same claim has been obtained against the limited
partnership and a writ of execution on the judgment has been returned
unsatisfied in whole or in part;
b. The limited partnership is a debtor in bankruptcy;
c. The general partner has agreed that the creditor need not exhaust limited
partnership assets;
d. A court grants permission to the judgment creditor to levy execution against the
assets of a general partner based on a finding:
(1) That limited partnership assets subject to execution are clearly insufficient to
satisfy the judgment;
(2) That exhaustion of limited partnership assets is excessively burdensome; or
(3) That the grant of permission is an appropriate exercise of equitable powers
of the court; or
e. Liability is imposed on the general partner by law or contract independent of the
existence of the limited partnership.