Which of the following must a limited partner do or refrain from doing in order to retain limited personal liability?
A) The limited partner must comply in good faith with the requirement that a certificate of limited partnership be filed.
B) The limited partner may not participate in the control of the business.
C) The limited partner's surname may not be a part of the partnership name.
D) The limited partner must comply in good faith with the requirement that a certificate of limited partnership be filed, the limited partner may not participate in the control of the business, and the limited partner's surname may not be a part of the partnership name.
E) The limited partner must comply in good faith with the requirement that a certificate of limited partnership be filed and the limited partner may not participate in the control of the business, but whether the limited partner's surname appears as a part of the partnership name is irrelevant to the issue of personal liability.
Correct Answer:
Verified
Q23: Which of the following entitles a creditor
Q31: Which of the following is true regarding
Q59: Which of the following stages must be
Q60: Which of the following is true regarding
Q61: Which of the following was the result
Q62: The Revised Uniform Limited Partnership Act provides
Q64: Which of the following is true regarding
Q65: Which of the following was the result
Q66: Reference - Partnership Disruption. Bruce, Sandra, and
Q68: In a dissolution of a partnership, if
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents