45-22-09. Piercing the limited liability shield

45-22-09. Piercing the limited liability shield

With respect to piercing the limited liability partnership shield:

1. Except as provided in subsection 2, the case law that states the conditions and

circumstances under which the corporate veil or limited liability shield of a corporation

may be pierced under North Dakota law also applies to limited liability partnerships,

taking into account the differences between corporations and partnerships.

2. The use of informal procedures or arrangements for the management and for the

conduct of business is not a ground for piercing the limited liability shield of the limited

liability partnership.