North Dakota § 45-10.2-56 (602) Effect of dissociation as limited partner

North Dakota Statutes

§ 45-10.2-56 — (602) Effect of dissociation as limited partner

North Dakota § 45-10.2-56

Title 45Partnerships

Ch. 45-10.2Uniform Limited Partnership Act

This text of North Dakota § 45-10.2-56 ((602) Effect of dissociation as limited partner) 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 § 45-10.2-56 (2026).

Text

1.Upon the dissociation of a person as a limited partner:

a.Subject to section 45-10.2-65, the person does not have further rights as a limited partner;

b.The obligation of a person for good faith and fair dealing as a limited partner under subsection 2 of section 45-10.2-35 continues only as to matters arising and events occurring before the dissociation; and

c.Subject to section 45-10.2-65 and sections 45-10.2-94 through 45-10.2-106, any transferable interest owned by the person in the capacity as a limited partner immediately before dissociation is owned by the person as a mere transferee.

2.The dissociation of a person as a limited partner does not of itself discharge the person from any obligation to the limited partnership or the other partners which the person incurred while a

Free access — add to your briefcase to read the full text and ask questions with AI

1. Upon the dissociation of a person as a limited partner:
a. Subject to section 45-10.2-65, the person does not have further rights as a limited
partner;
b. The obligation of a person for good faith and fair dealing as a limited partner
under subsection 2 of section 45-10.2-35 continues only as to matters arising and
events occurring before the dissociation; and
c. Subject to section 45-10.2-65 and sections 45-10.2-94 through 45-10.2-106, any
transferable interest owned by the person in the capacity as a limited partner
immediately before dissociation is owned by the person as a mere transferee.
2. The dissociation of a person as a limited partner does not of itself discharge the
person from any obligation to the limited partnership or the other partners which the
person incurred while a limited partner.