North Dakota Code 45-23-05 – Effective date of formation or election under this chapter
With respect to the date on which a limited liability limited partnership is formed or on which a limited partnership elects to be governed by this chapter:
Terms Used In North Dakota Code 45-23-05
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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
1. If a limited partnership does not exist, then a limited liability limited partnership is formed on the later of the filing of the certificate of limited liability limited partnership or the date specified in the certificate of limited liability limited partnership which is within ninety days after the filing of the certificate of limited liability limited partnership.
2. An existing limited partnership electing to convert to a limited liability limited partnership is governed by this chapter on the later of the filing of the record designated as both an amendment to the certificate of limited partnership and a certificate of limited liability limited partnership or the date specified in that record which is within ninety days after the filing of the record.