A limited partner may engage in voting on the dissolution of the limited partnership without losing his or her limited liability.

Question

Quizplus · Accepted Answer

Limited partners are not generally allowed to participate in the management of the partnership, but they may vote on certain decisions such as the dissolution of the partnership without exposing themselves to personal liability for the debts and obligations of the business. However, if a limited partner takes part in the control of the partnership, he or she may lose their limited liability status.

A Limited Partner May Engage in Voting on the Dissolution