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Ifsuch cert ing requirements ate is not filed, the ithe sme manner 28a eneral partnership, * P*erShip may be 7aTl0NS ON A LIMITED PaRrNy xd partner cannot be an industrial + yays be money or property, 2 Thesumame of a limited partner shall not appear in the partnershi ~ same unless: 7 2, Itisalso the surname of a general partner, or b. Priorto the time when the hasbeen cartied on under a n: 3 The limited partner cannot partnership, Partner. His contribution must ‘ited partner ‘became such, the’ business. ‘ame in which his surname appeared. ‘ake part in the management of the 4a limited partner contributed industry, or his name appears in the farnarship name (except for the above exceptions) and/or took part in the Sanagement of the partnership, he shall be liable as ifhe isa general partner, RigHTS OF A LIMITED PARTNER: Fave the partnership books kept at the principal place of business ofthe Patttership, and at a reasonable hour to inspect and copy any of them; Hive on demand true and full information of all things affecting the Patttership, and a formal account of partnership affairs whenever cumstances tender it just and reasonable; ea Sve dissolution and winding up by decree of court. Receive a share of the ea ‘or other compensation by way of income, ‘ndto the return of his contribution. However, a limited partner shall not “Seve any part of his contribution un aa ies ofthe partnership, except labltes fo genera! parners nd to limited partners on account of theit contin, have a Paid or there remains property of the partnership sulffici Hon return of the The consent of all members is had, unless SEE aaatibution may be rightfully demanded as provi ts th the The centiieate is cancelled or so amended a (0 set for Riga taal orreduction, © ony? demand for his contribution: {he dissolution of a partne 270b. When the date specifies After he has six month time is specified in contribution or for t 6. Have his written consent or ratification in order to: a. Doany actin contravention of the b. Doany act which would make it impo" business of the partnership: Confess a judgment against the partnership; d 4G. Possess partnership property, or assign their rights in spe partnership property, for other than a partnership Purpose: e Admit a person as @ f Admita in the certificate; Continue the business with partnership property on the dest retirement, insanity, jon ot insolvency of a gene the right so to dois given notice in writing to all other member, vertificate, either for the return «p dissolution of the partnership. abe sought by the general par, ifica le to carry on the ordzs, sneral partni partner, unless the right s0 to doisgne the certificate. partner, un 7. Alimited partner may loan money and to transact other business wit the partnership, subject to the following restrictio 4a He cannot receive or hold as collateral security any partner property: b. He cannot receive any payment, conveyance or release from lati if at the time the assets ofthe partnership are not sue ® Ischarge partnership liabilities to persor laimi je aid penne persons not claiming as gene! ‘Any violation of the above restrictio y y ove restrictions would be in fraud of creditorsand™! thus be treated as a rescissil contract, GENERAL-LIMITED PARTNER: limited partner in the s A person may be a general partner #4? ime partnershi Partnership, provided that this fact i stated a hhave the ri Fights and po <1 Powers and! be subject to all the restrictions seneral partner, Exee rights cept that, in re si # Beneral partner, . “ lif he were no" 27)retirement, death, insolvency, insanity or civil interdiction of a en WARTNER dissolves the partnership. Except: Ifthe parnership " inued by the remaining general partners under aright to do the Certificate of Limited Partnership OR with the consent of The os ane partners sisted partner may have the partnership dissolved and its affairs wound even he rightfully but unsuccessfully demands the return of his cxitution. outiution of Assets of a Limited Partnership: willbe done in the following ander, | Those owing to creditors other than partners; 1 Those owing to the limited partners, ‘other than capital and profits; Those owing to the limited partners in respect of Profits Those owing to the limited partners in respect of capital; Those owing to general partners other than for capital and profits; me ‘owing to general partners in respect of profits; vse owing to general partners in respect of capital.