(602) Effect of dissociation as limited partner
N.D. Cent. Code § 45-10.2-56
in effect45-10.2-56. (602) Effect of dissociation as limited partner
1. Upon the dissociation of a person as a limited partner:
a. Subject to section 45-10.2-65, the person does not have further rights as a limited
partner;
b. The obligation of a person for good faith and fair dealing as a limited partner
under subsection 2 of section 45-10.2-35 continues only as to matters arising and
events occurring before the dissociation; and
c. Subject to section 45-10.2-65 and sections 45-10.2-94 through 45-10.2-106, any
transferable interest owned by the person in the capacity as a limited partner
immediately before dissociation is owned by the person as a mere transferee.
2. The dissociation of a person as a limited partner does not of itself discharge the
person from any obligation to the limited partnership or the other partners which the
person incurred while a limited partner.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t45c10-2.pdf#nameddest=45-10p2-56Fetched: 10/16/2026