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Oregon Certificate of Limited Partnership

Oregon Certificate of Limited Partnership

Name: Oregon Certificate of Limited Partnership
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.55 (321 reviews)

Category:

Oregon Secretary of State - Business Registry

State:

Oregon

Control #:

OR-SKU-1025

Format:

Instant download

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Description

Certificate Of Limited Partnership The Oregon Certificate of Limited Partnership (CLP) is a document that must be filed with the Oregon Secretary of State in order to establish a limited partnership (LP) in the state. An Oregon LP is a business entity that is formed by two or more individuals, known as partners, who agree to share the profits and losses of the business. The CLP must include the name and address of the LP, the name and address of each partner, the name of the registered agent, and a description of the LP’s purpose. Once it is filed, it becomes a public record. There are two types of Oregon Certificate of Limited Partnerships: the Certificate of Limited Partnership — General and the Certificate of Limited Partnership — Limited Liability Company (LLC). The Certificate of Limited Partnership — General is used to form an LP that has one or more general partners who are fully liable for the LP’s debts and obligations. The Certificate of Limited Partnership — LLC is used to form an LP that has one or more limited partners who are only liable for the LP’s debts and obligations up to the amount of their investment.

The Oregon Certificate of Limited Partnership (CLP) is a document that must be filed with the Oregon Secretary of State in order to establish a limited partnership (LP) in the state. An Oregon LP is a business entity that is formed by two or more individuals, known as partners, who agree to share the profits and losses of the business. The CLP must include the name and address of the LP, the name and address of each partner, the name of the registered agent, and a description of the LP’s purpose. Once it is filed, it becomes a public record. There are two types of Oregon Certificate of Limited Partnerships: the Certificate of Limited Partnership — General and the Certificate of Limited Partnership — Limited Liability Company (LLC). The Certificate of Limited Partnership — General is used to form an LP that has one or more general partners who are fully liable for the LP’s debts and obligations. The Certificate of Limited Partnership — LLC is used to form an LP that has one or more limited partners who are only liable for the LP’s debts and obligations up to the amount of their investment.

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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 partnerships are a form of partnership involving general partners, who are liable for all the debts and liabilities of the partnership, and limited partners, who are liable to the extent of their capital contribution to the partnership.

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.

Steps to Create an Oregon General Partnership Determine if you should start a general partnership. Choose a business name. File a DBA name (if needed) Draft and sign partnership agreement. Obtain licenses, permits, and clearances. Get an Employer Identification Number (EIN) Get Oregon state tax identification numbers.

A limited partnership agreement helps protect your business into the future by outlining each partner's roles and responsibilities, as well as how they share in the business profits. You should use a limited partnership agreement if you want to form a limited partnership or formalize an existing limited partnership.

--A limited partnership (LP) is a partnership of two or more persons with at least one general partner and one limited partner. 1. General Partners. As a rule of thumb, general partners in an LP have the same powers, rights, duties, and exposure to liability as partners in a general partnership.

An LP must have two or more owners. At least one must be a general partner who has unlimited, personal liability, and one must be a limited partner who has limited liability but is prohibited from participating in business management.

Only professionals such as accountants, architects, lawyers, dentists, and so on are permitted to open LLPs. Like limited partnerships, LLPs must register with the State of Oregon. LLPs are managed more like a general partnership since all partners are allowed to participate.

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Instructions: • Complete and include this form with your paper submission. Complete and file the Certificate of Limited Partnership with the Department of State.You will need to fill out a Certificate of Limited Partnership and submit it to your Secretary of State's office. To form a limited partnership, the partners must enter into a partnership agreement and file a certificate of formation with the secretary of state. You will receive a stamped "Filed" copy of your submitted document. If handwritten, the form must be legible and completed in black or blue-black ink in order to permit reproduction. Form must be filed electronically. Paper forms are not accepted. Minnesota Statutes, Chapter 321. Certificate of Limited Partnership Form Instructions.

Oregon Certificate of Limited Partnership

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