§ 45-10.2-72 — (806) Known claims against dissolved limited partnership

North Dakota § 45-10.2-72

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

Text

1. A dissolved limited partnership may dispose of the known claims against it by following
the procedure described in subsection 2.
2. A dissolved limited partnership may notify its known claimants of the dissolution in a
record. The notice must:
a. Specify the information required to be included in a claim;
b. Provide a mailing address to which the claim is to be sent;
c. State the deadline for receipt of the claim, which may not be less than one
hundred twenty days after the date the notice is received by the claimant;
d. State that the claim will be barred if not received by the deadline; and
e. Unless the limited partnership has been at each moment during its existence a
limited liability limited partnership, state that the barring of a claim against the
limited partnership will also bar any corresponding claim against any general
partner or person dissociated as a general partner which is based on section
45-10.2-40.
3. A claim against a dissolved limited partnership is barred if the requirements of
subsection 2 are met and:

a. The claim is not received by the specified deadline; or
b. In the case of a claim that is timely received but rejected by the dissolved limited
partnership, the claimant does not commence an action to enforce the claim
against the limited partnership within ninety days after the receipt of the notice of
the rejection.
4. This section does not apply to a claim based on an event occurring after the effective
date of dissolution or a liability that is contingent on that date.