New York Certificate of Limited Partnership

• Category: Partnerships - Limited
• State: Multi-State
• Control #: US-P1205-3AM
• Format: Word; Rich Text

Description

This form is a model adaptable for use in partnership matters. Adapt the form to your specific needs and fill in the information. Don't reinvent the wheel, save time and money. The New York Certificate of Limited Partnership is a legal document filed with the New York Secretary of State by a group of individuals or entities who wish to form a limited partnership in the state of New York. It serves as evidence of the creation and existence of the limited partnership and provides essential information about its structure and operation. The New York Certificate of Limited Partnership contains various key details, including the name of the limited partnership, the street address of its principal place of business, and the names and addresses of all general and limited partners involved. It also specifies the duration of the partnership, which can be either perpetual or for a specific period. This crucial document reflects the rights, powers, and obligations of the general and limited partners. General partners have unlimited personal liability for the partnership's debts and obligations, while limited partners have limited liability, typically restricted to the amount they have invested in the partnership. The roles and responsibilities of each partner in managing the partnership, as well as the distribution of profits and losses, should also be outlined in the certificate. In New York, there are two main types of Certificates of Limited Partnership: the original certificate and the amended certificate. The original certificate is filed to establish a new limited partnership, while the amended certificate is filed to make changes to the existing certificate, such as modifying the partnership's name, adding or removing partners, or altering the partnership's purpose. Limited partnerships in New York must adhere to the rules and regulations governed by the New York Revised Partnership Act. This act provides guidance on various aspects of limited partnerships, including the formation, operation, and dissolution of such entities. In summary, the New York Certificate of Limited Partnership is a crucial legal document that establishes the existence and structure of a limited partnership in New York. It contains essential information about the partnership's partners, address, duration, and management, while also outlining the rights and obligations of each partner. By filing this certificate, limited partnerships can acquire legal recognition for their business operations in the state of New York.

The New York Certificate of Limited Partnership is a legal document filed with the New York Secretary of State by a group of individuals or entities who wish to form a limited partnership in the state of New York. It serves as evidence of the creation and existence of the limited partnership and provides essential information about its structure and operation. The New York Certificate of Limited Partnership contains various key details, including the name of the limited partnership, the street address of its principal place of business, and the names and addresses of all general and limited partners involved. It also specifies the duration of the partnership, which can be either perpetual or for a specific period. This crucial document reflects the rights, powers, and obligations of the general and limited partners. General partners have unlimited personal liability for the partnership's debts and obligations, while limited partners have limited liability, typically restricted to the amount they have invested in the partnership. The roles and responsibilities of each partner in managing the partnership, as well as the distribution of profits and losses, should also be outlined in the certificate. In New York, there are two main types of Certificates of Limited Partnership: the original certificate and the amended certificate. The original certificate is filed to establish a new limited partnership, while the amended certificate is filed to make changes to the existing certificate, such as modifying the partnership's name, adding or removing partners, or altering the partnership's purpose. Limited partnerships in New York must adhere to the rules and regulations governed by the New York Revised Partnership Act. This act provides guidance on various aspects of limited partnerships, including the formation, operation, and dissolution of such entities. In summary, the New York Certificate of Limited Partnership is a crucial legal document that establishes the existence and structure of a limited partnership in New York. It contains essential information about the partnership's partners, address, duration, and management, while also outlining the rights and obligations of each partner. By filing this certificate, limited partnerships can acquire legal recognition for their business operations in the state of New York.