Miles is a limited partner in Big Blue,LP.The partnership agreement permits him to have a say in the removal of general partners and the blocking of new partners.This agreement will jeopardize his limited partner status.

Question

Quizplus · Accepted Answer

Limited partners can have rights to vote on certain issues, such as the removal of general partners or the admission of new partners, without losing their limited liability status, as long as these rights are outlined in the partnership agreement and do not involve day-to-day management activities.

Miles Is a Limited Partner in Big Blue,LP