A person may be both a general partner and a limited partner in the same limited partnership.

Question

Quizplus · Accepted Answer

It is possible for a person to hold both the positions of a general partner and a limited partner in a limited partnership. However, this would generally depend on the specific terms and conditions of the partnership agreement. In such cases, the person would have the ability to control the management and operations of the partnership as a general partner, while also limiting their personal liability for partnership debts as a limited partner.

A Person May Be Both a General Partner and a Limited