For limited partners to retain their status of limited liability, the partnership must evidence _____ compliance with all technical requirements of the limited partnership law.

Question

Quizplus · Accepted Answer

If an accurate certificate is not on record and the limited partnership continues its operation, the limited partners become liable as general partners. Substantial compliance with all the technical requirements of the limited partnership law is essential if the limited partners are to be assured of their limited liability.

For Limited Partners to Retain Their Status of Limited Liability