Legal Question in Business Law in Texas
Limited partnerships
Can a general partner be voted out of a business? What would be the remaining partners responcabilty to the exiting partner if any?
Asked on 10/09/01, 3:29 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Limited partnerships
The answers to your questions lie in the Limited Partnership Agreement. The responsibility is the same as that of any other partner. The operating partner may be removed from that position, but they still retain their partnership status.
Answered on 11/26/01, 12:34 pm
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