North Dakota Code 45-14-03 – (203) Partnership property
Current as of: 2023 | Check for updates
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Property acquired by a partnership is property of the partnership and not of the partners individually.
Terms Used In North Dakota Code 45-14-03
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes a limited liability partnership registered under chapter 45-22. See North Dakota Code 1-01-49
- Property: includes property, real and personal. See North Dakota Code 1-01-49