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Amended and Restated Agr. of Limited Partnership of Shopco Regional Malls, LP btwn Shearson Regional Malls, Inc. and Shearson Regional Malls Depositary Corp. dated October 6, 1998. 67 pages
A limited partnership is a business structure where there are two types of partners: general partners and limited partners. The general partners manage the business and are personally liable for its debts, while limited partners contribute capital but have limited liability.
You can find a sample limited partnership pdf with page numbers in the Multi-State website's Resources section. It provides a comprehensive template that can guide you in creating your own limited partnership agreement.
To access the Multi-State website, you can simply search for it in your preferred search engine. Once on the website, navigate to the Resources section and look for the sample limited partnership pdf with page numbers.
A limited partnership agreement should include details about the business structure, capital contributions, profit distribution, decision-making authority, and the roles and responsibilities of the general and limited partners. It should also address matters like withdrawal or death of partners, dispute resolution, and any specific terms unique to your partnership.
No, limited partners are not personally liable for the partnership's debts beyond their initial capital contributions. Their liability is limited to the extent of their investment, allowing them to protect their personal assets.
Yes, a limited partnership can operate in multiple states. However, it needs to comply with the laws and regulations of each state where it conducts business. This may involve registering as a foreign entity and meeting additional requirements.
Forming a limited partnership offers several advantages such as limited liability for the limited partners, the ability to attract investors as limited partners, increased management flexibility, and potential tax benefits.
Yes, a limited partnership can be converted into a different business structure like a limited liability company (LLC) or a corporation. However, the process and requirements for conversion may vary depending on the state and the desired new structure.
No, limited partners do not have a say in the day-to-day management of the partnership. Their role is typically limited to contributing capital and sharing in the profits. The general partners are responsible for making management decisions.
Yes, a limited partnership agreement can be modified or amended if all the partners agree to the changes. It is recommended to document any modifications in writing to avoid potential disputes in the future.
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