North Dakota Code 10-32.1-72 – Foreign limited liability company – Governing law
1. The law of the state or other jurisdiction under which a foreign limited liability company is formed governs:
Terms Used In North Dakota Code 10-32.1-72
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
a. The internal affairs of the company; and
b. The liability of a member as member, a manager as manager, and a governor as governor for the debts, obligations, or other liabilities of the company.
2. A foreign limited liability company may not be denied a certificate of authority by reason of any difference between the law of the jurisdiction under which the company is formed and the law of this state.
3. A foreign limited liability company holding a valid certificate of authority in this state has no greater rights and privileges than a domestic limited liability company. A certificate of authority does not authorize a foreign limited liability company to engage in any business or exercise any power that a limited liability company may not engage in or exercise in this state.