1.    Except as otherwise provided in subsection 2, after dissolution a partner is liable to the other partners for the partner’s share of any partnership liability incurred under section 45-20-04.

Terms Used In North Dakota Code 45-20-06

  • 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

2.    A partner who, with knowledge of the dissolution, incurs a partnership liability under subsection 2 of section 45-20-04 by an act that is not appropriate for winding up the partnership business is liable to the partnership for any damage caused to the partnership arising from the liability.

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