General Partnership Agreement

 General Form of Limited Partnership Agreement
The Forms Professionals Trust! ™
State:
Multi-State
Control #:
US-01616BG
Instant Download
Available formats: Word | Rich Text

Free Preview limited partnership agreement

Description form partnership agreement

A limited partnership is a modified partnership and is a creature of State statutes. Most States have either adopted the Uniform Limited Partnership Act (ULPA) or the Revised Uniform Limited Partnership Act (RULPA). In a limited partnership, certain members contribute capital, but do not have liability for the debts of the partnership beyond the amount of their investment. These members are known as limited partners. The partners who manage the business and who are personally liable for the debts of the business are the general partners. A limited partnership can have one or more general partners and one or more limited partners.

The general partners manage the business of the partnership and are personally liable for its debts. Limited partners have the right to share in the profits of the business and, if the partnership is dissolved, will be entitled to a percentage of the assets of the partnership. A limited partner may lose his limited liability status if he participates in the control of the business.

All forms provided by U.S. Legal Forms, Inc.™, (USLF), the nations leading legal forms publisher. When you need limited partnership agreement template, don't accept anything less than the USlegal™ brand. "The Forms Professionals Trust ™

Gold Award 2006-2018

BEST Legal Forms Company

11 Year Winner in all Categories:
Forms, Features, Customer Service
and Ease of Use.


100% Satisfaction Guarantee

100% Satisfaction Guarantee

"I ordered some Real Estate forms online and as a result of my error, I placed the order twice. This morning I called Customer Service and Vern immediately credited back my Visa the extra amount. No problems, no lectures, no hassle."

U.S. Legal Forms, Inc. BBB Business Review