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Current as of January 01, 2024 | Updated by FindLaw Staff
A general partner of a limited partnership may make contributions to the partnership and share in the profits and losses of, and in distributions from, the limited partnership as a general partner. A general partner also may make contributions to and share in profits, losses, and distributions as a limited partner. A person who is both a general partner and a limited partner has the rights and powers, and is subject to the restrictions and liabilities, of a general partner and, except as provided in the partnership agreement, also has the powers, and is subject to the restrictions, of a limited partner to the extent of his or her participation in the partnership as a limited partner.
Cite this article: FindLaw.com - Vermont Statutes Title 11. Corporations, Partnerships and Associations, § 3434. Contributions by general partner - last updated January 01, 2024 | https://codes.findlaw.com/vt/title-11-corporations-partnerships-and-associations/vt-st-tit-11-sect-3434/
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