§ 45-10.2-47 — (502) Liability for contribution

North Dakota § 45-10.2-47

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

Text

1. The obligation of a partner to contribute money or other property or other benefit to, or
to perform services for, a limited partnership is not excused by the death of a partner,
disability, or other inability to perform personally.
2. If a partner does not make a promised nonmonetary contribution, the partner is
obligated at the option of the limited partnership to contribute money equal to that
portion of the value, as stated in the required information, of the stated contribution
that has not been made.
3. The obligation of a partner to make a contribution or return money or other property
paid or distributed in violation of this chapter may be compromised only by consent of
all partners. A creditor of a limited partnership that extends credit or otherwise acts in
reliance on an obligation described in subsection 1, without notice of any compromise
under this subsection, may enforce the original obligation.