Title 45, Partnerships
25 chapters · 243 sections in this title.
N.D.C.C. § 45-16-01 (401) Partner's rights and duties
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1. Each partner is deemed to have an account that is: a. Credited with an amount equal to the money plus the value of any other property, net of the amount of any liabilities, the partner contributes to the partnership and the partner's share of the partnership profits; and b. Ch…
N.D.C.C. § 45-16-02 (402) Distributions in kind
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A partner has no right to receive, and may not be required to accept, a distribution in kind.
N.D.C.C. § 45-16-03 (403) Partner's rights and duties with respect to information
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1. A partnership shall keep its books and records, if any, at its chief executive office. 2. A partnership shall provide partners and their agents and attorneys access to its books and records. It shall provide former partners and their agents and attorneys access to books and re…
N.D.C.C. § 45-16-04 (404) General standards of partner's conduct
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1. The only fiduciary duties a partner owes to the partnership and the other partners are the duty of loyalty and the duty of care set forth in subsections 2 and 3. 2. A partner's duty of loyalty to the partnership and the other partners is limited to the following: a. To account…
N.D.C.C. § 45-16-05 (405) Actions by partnership and partners
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1. A partnership may maintain an action against a partner for a breach of the partnership agreement, or for the violation of a duty to the partnership, causing harm to the partnership. 2. A partner may maintain an action against the partnership or another partner for legal or equ…
N.D.C.C. § 45-16-06 (406) Continuation of partnership beyond definite term or particular undertaking
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1. If a partnership for a definite term or particular undertaking is continued, without an express agreement, after the expiration of the term or completion of the undertaking, the rights and duties of the partners remain the same as they were at the expiration or completion, so …
N.D.C.C. § 45-16-07 Action without a meeting
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An action required or permitted to be taken at a meeting of the partners may be taken without a meeting by written action signed, or consented to by authenticated electronic communication, by all of the partners entitled to vote on the action. 1. If the partnership agreement so p…
N.D.C.C. § 45-16-08 Remote communications for partner meetings
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1. This section shall be construed and applied to: a. Facilitate remote communication consistent with other applicable law; and b. Be consistent with reasonable practices concerning remote communication and with the continued expansion of those practices. 2. To the extent authori…