Asset Protection Society

Home North Dakota State Asset Protection Laws
North Dakota Asset Protection Summary 

Homestead Protection

Whether married or unmarried, there is a Homestead exemption of $80,000.  This $80,000 shall include the land and any appurtenances and other improvements thereon so long as the land is used as personal residence.  To see this statute, please click here.

Life Insurance and Annuities

The (avails) surrender value of any life insurance policy is exempt if payable to any spouse, child, or other dependent of the insured.  §26.1-33-36  To view this statute, please click here.

The avails of a life insurance policy are exempt when made payable to the deceased, a personal representative of the deceased, deceased’s heirs or estate. §26.1-33-40 To see this statute, please click here.

Annuity policies or plans, and life insurance polices payable to the insured’s spouse, children, or any other dependents are exempt up to $100,000 for each plan with an aggregate limit of $200,000.  This dollar amount does not apply if reasonably necessary for support of dependents. To view this statute, please click here. §28-22-03.1(3)

IRA

ERISA qualified plans, including Keoghs, IRAs, and Roth IRAs, are exempt up to $100,000 for each plan with an aggregate limit of $200,000.  These dollar amounts do not apply if the benefits are “reasonably necessary for support.”  To view this statute and get a definition of “reasonably necessary for support,” click here.

Corporate Protections

Charging Order

As a judgment creditor’s exclusive remedy, a judgment creditor may seek to charge the debtor-partner’s partnership interest with payment of the unsatisfied debt.  The judgment creditor will have only the rights of a transferee.  This charging order constitutes a lien on the debtor-partner’s transferable partnership interest.  § 45-10.2-64 of Uniform Limited Partnership Act (2001)  To view this statute, click here.

Business Acts

1.      North Dakota Business Corporations Act

a.      To view this Act, click here.

2.      North Dakota Limited Liability Company Act

a.      To view this Act, click here.

3.      North Dakota Professional Organizations Act

a.      To view this Act, click here.

4.      North Dakota Uniform Limited Partnership Act (2001)

a.      To view this Act, click here.

5.      North Dakota Limited Liability Partnership Act

a.      To view this Act, click here.

6.      North Dakota Limited Liability Limited Partnership Act

a.      To view this Act, click here.

The Asset Protection Society makes every attempt to keep the material on its web-pages up to date and accurate. Having said that, The APS does not warrant the material on this site and you should ALWAYS seek out the advice of a local advisor in your state who can give you individual advice for your particular situation and confirm the status of your state laws.