§ 45-10.2-43 — (407) Right of general partner and former general partner to information

North Dakota § 45-10.2-43

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

Text

1. A general partner, without having any particular purpose for seeking the information,
may inspect and copy during regular business hours:
a. In the principal executive office of the limited partnership, required information;
and
b. At a reasonable location specified by the limited partnership, any other records
maintained by the limited partnership regarding the activities and financial
condition of the limited partnership.

2. Each general partner and the limited partnership shall furnish to a general partner:
a. Without demand, any information concerning the activities and financial condition
of the limited partnership reasonably required for the proper exercise of the rights
and duties of the general partner under the partnership agreement or this
chapter; and
b. On demand, any other information concerning the activities of the limited
partnership, except to the extent the demand or the information demanded is
unreasonable or otherwise improper under the circumstances.
3. Subject to subsection 5, on ten days' demand made in a record received by the limited
partnership, a person dissociated as a general partner may have access to the
information and records described in subsection 1 at the location specified in
subsection 1 if:
a. The information or record pertains to the period during which the person was a
general partner;
b. The person seeks the information or record in good faith; and
c. The person satisfies the requirements imposed on a limited partner by
subsection 2 of section 45-10.2-34.
4. The limited partnership shall respond to a demand made pursuant to subsection 3 in
the same manner as provided in subsection 3 of section 45-10.2-34.
5. If a general partner dies, then section 45-10.2-65 applies.
6. The limited partnership may impose reasonable restrictions on the use of information
under this section. In any dispute concerning the reasonableness of a restriction under
this subsection, the limited partnership has the burden of proving reasonableness.
7. A limited partnership may charge a person dissociated as a general partner that
makes a demand under this section reasonable costs of copying, limited to the costs
of labor and material.
8. A general partner or person dissociated as a general partner may exercise the rights
under this section through an attorney or other agent. Any restriction imposed under
subsection 6 or by the partnership agreement applies both to the attorney or other
agent and to the general partner or person dissociated as a general partner.
9. The rights under this section do not extend to a person as transferee, but the rights
under subsection 3 of a person dissociated as a general partner may be exercised by
the legal representative of an individual who dissociated as a general partner under
subdivisions b and c of subsection 7 of section 45-10.2-57.