Legal Question in Business Law in Minnesota

limited partnership

I have been a limited partner for 9 years. the general partners have never given me any information about the partnership besides a K-1 form. a new general partner is now denying my right to information also. what can i do?


Asked on 3/04/09, 9:34 pm

3 Answers from Attorneys
David Anderson Anderson Business Law LLC

Re: limited partnership

You need to make demand pursuant to the Articles and Bylaws.

I have done corporate law for 28 years.

Call or email for assistance.

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Answered on 3/04/09, 9:57 pm
Donald Scher Donald T. Scher & Associates, P.C.

Re: limited partnership

Your rights as a limited partner are determined by your Partnership Agreement and state law. Limited partners have the right to review the books and records of the partnership at a reasonable time and place. If the general partner refuses to give you access, then you can bring suit against the general partner for breach of his duties and any other complaints that you might have regarding the way he is managing the business of the partnership.

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Answered on 3/04/09, 11:20 pm
Daniel Reiff Reiff Law Office

Re: limited partnership

You should examine the partnership agreement and any other agreements you have. It may be necessary to threaten and/or initiate litigation.

NOTE: The information in this response is not intended to be legal advice or to create an attorney-client relationship. No such relationship is intended until a retainer agreement is signed by both parties.

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Answered on 3/05/09, 10:42 am


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