Chapter 10-32.1 is applicable to farming or ranching limited liability companies and authorized livestock farm limited liability companies, which have the powers and privileges and are subject to the duties, restrictions, and liabilities of other business limited liability companies, except when inconsistent with the intent of this chapter. This chapter takes precedence in the event of any conflict with the provisions of chapter 10-32.1.

Terms Used In North Dakota Code 10-06.1-14

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.