North Dakota considering limited liability partnerships surety bond

limited liability partnerships

North Dakota HB 106 was passed by the House of Representatives on January 28, 2013, and is currently pending Senate approval, which would require a limited liability partnerships bond if passed.

If enacted, HB 1106 would provide that the general partners, governors and managers of limited liability partnerships who are responsible for making the returns and payments would be personally liable in the event of a failure for any reason to pay the taxes due. In lieu of personal liability, the partnership could post a surety bond or a certificate of deposit as security to guarantee the payment of taxes.

Read HB 1106 in its entirety here.

If you need a surety bond in North Dakota or any other state, you can contact a surety expert by calling 1 (800) 308-4358 between 8 a.m. and 7 p.m. CST Monday through Friday. Or, submit an online contact form, and a surety expert will contact you as soon as possible.

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