Limited partners are prohibited by state law from becoming actively involved in the day-to-day operations of the partnership.

Name: Limited partners are prohibited by state law from becoming actively involved in the day-to-day operations of the partnership.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Limited partners are passive investors and are prohibited by state law from being actively involved in the management and operations of the partnership. Their liability is also limited to the capital they have invested in the partnership.

Limited Partners Are Prohibited by State Law from Becoming Actively