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North Dakota Code 10-32-29 - Personal liability
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Current as of: 2009 1. Subject to subsection 3, a member, governor, manager, or other agent of a limited liability company is not, merely on account of this status, personally liable for the acts, debts, liabilities, or obligations of the limited liability company. 2. However, all persons who assume to act as a limited liability company without authority are jointly and severally liable for all debts and liabilities incurred or arising as a result. 3. The case law that states the conditions and circumstances under which the corporate veil of a corporation may be pierced under North Dakota law also applies to limited liability companies. 4. The limited liability described in subsections 1 and 3 continues in full force regardless of any dissolution, winding up, and termination of a limited liability company. ________________________________________________________________________
North Dakota Laws: Limited Liability CompaniesRelated Articles: Limited Liability Companies
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Peacock Myers, P.C. |
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201 Third Street NW, Suite 1340
Albuquerque, New Mexico 87102 |
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Practice Areas: For Small Business, Intellectual Property
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www.peacocklaw.com/
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The Jaffe Law Firm |
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General Practice Law Firm |
320 Gold Avenue SW, #1300
Albuquerque, New Mexico 87102 |
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Practice Areas: Employment, Criminal Law, Family Law, For Small Business, Personal Injury
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www.thejaffelawfirm.com/
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Wolf & Fox, P.C. |
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Full Service Law Firm |
1200 Pennsylvania NE
Albuquerque, New Mexico 87110 |
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Practice Areas: Family Law
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www.wolfandfoxpc.com/
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