A Mississippi Certificate of Limited Partnership is a legal document filed with the Secretary of State's office in Mississippi that establishes and governs the operations of a new private equity fund structured as a limited partnership. This certificate grants legal recognition to the partnership and outlines the rights, responsibilities, and obligations of the general and limited partners involved in the fund. Keywords: Mississippi, Certificate of Limited Partnership, New Private Equity Fund, limited partnership, Secretary of State, general partners, limited partners, legal document, legal recognition, rights, responsibilities, obligations. There are no specific types or variations of the Mississippi Certificate of Limited Partnership for new private equity funds. However, the certificate's contents may vary depending on the fund's specific terms and conditions established by the partners. The document typically includes the following information: 1. Name: The full legal name of the partnership, which usually includes the term "Limited Partnership" to indicate its structure. 2. Principal Place of Business: The physical address where the partnership's main operations and management are located within Mississippi. 3. Registered Agent: The name and address of the individual or business entity authorized to receive legal documents and notices on behalf of the partnership. 4. General Partners: The names and addresses of the general partners who have unlimited liability and are responsible for the day-to-day management and decision-making of the fund. 5. Limited Partners: The names and addresses of the limited partners who have limited liability and contribute capital to the fund but have no direct involvement in its management or decision-making. 6. Duration: The period during which the partnership will remain in existence unless dissolved earlier through mutual agreement or other circumstances allowed by law. 7. Purpose: A statement regarding the fund's objectives, such as investing in various types of private equity assets, targeting specific industries or sectors, or pursuing a particular investment strategy. 8. Capital Contributions: Details on the initial contributions made by the partners, including the amount of capital each partner has committed to the fund. 9. Profits and Losses: The allocation of profits and losses among the partners, as well as any agreed-upon sharing ratios or preferences. 10. Distributions: The procedure for distributing profits to the partners, such as specific timing, frequency, and any special conditions or restrictions. 11. Dissolution: The process through which the partnership can be dissolved, including events triggering dissolution, procedures for winding up business affairs, and the distribution of remaining assets. It is important to consult with legal professionals to ensure compliance with Mississippi state laws and to tailor the certificate to meet the specific needs and objectives of the new private equity fund.
Mississippi Certificate of Limited Partnership of New Private Equity Fund
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How to fill out Mississippi Certificate Of Limited Partnership Of New Private Equity Fund?
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The certificate must state: (1) the name of the limited partnership, which must comply with Section 15901.08; (2) the address of the initial designated office; and (3) the name and address of the initial agent for service of process in ance with paragraph (1) of subdivision (d) of Section 15901.16.
Who are Limited Partners? LPs are the investors into private equity funds which are managed by a General Partner (GP) Like shareholders in a corporation, LPs have limited liability to the extent of their investment and have no management authority.
A private equity firm is called a general partner (GP) and its investors that commit capital are called limited partners (LPs). Limited partners generally consist of pension funds, institutional accounts and wealthy individuals.
Some states only require that the certificate contains the name of the limited partnership, the name and address of the registered agent and registered office, and the names and addresses of all of the general partners.
Limited liability partnership (LLP) is a type of general partnership where every partner has a limited personal liability for the debts of the partnership. Partners will not be liable for the tortious damages of other partners but potentially for the contractual debts depending on the state.
Private equity funds are closed-end investment vehicles, which means that there is a limited window to raise funds and once this window has expired no further funds can be raised. These funds are generally formed as either a Limited Partnership (?LP?) or Limited Liability Company (?LLC?).
A limited partnership has two types of partners: general partners and limited partners. It must have one or more of each type. All partner, limited and general, share the profits of the business. Each general partner has unlimited liability for the obligations of the business.
The firm name of your limited liability partnership must contain the words ?limited liability partnership? or ?societe a responsabilite limitee? or the abbreviations ?LLP?, ?L.L.P.? or ?s.r.l.? as the last words or letters of the firm name.
