Get the free Certificate of Limited Partnership - Minnesota Secretary Of State

Office of the Minnesota Secretary of State Minnesota Business Corporation Annual Renewal Minnesota Statutes, Section 5.34Must be filed by December 31 Read the instructions before completing this form.

How to fill out certificate of limited partnership

How to fill out a certificate of limited partnership:

1. Start by filling in the basic information: Enter the name of the limited partnership, including any suffixes or abbreviations. Also, include the address of the partnership's principal office.
2. Identify the general partner(s): List the name and address of each general partner. If there are multiple general partners, provide the necessary details for each.
3. Identify the limited partner(s): List the name and address of each limited partner. Just like with general partners, include all necessary details for each limited partner.
4. Specify the term of the partnership: State the duration of the limited partnership, whether it is for a specific period or indefinitely.
5. Detail the purpose of the limited partnership: Describe the primary business or activity in which the partnership will engage.
6. Indicate the contribution of each partner: Specify the dollar amount, property, or services that each partner is contributing to the partnership. If any partner's contribution is in the form of services, provide a description of the services being rendered.
7. Determine profit and loss distribution: Outline how profits and losses will be allocated among the partners. Typically, this is based on the ratio or percentage of each partner's contribution.
8. Appoint a registered agent: Identify the registered agent for the limited partnership who will receive legal notices on behalf of the partnership. Include the agent's name and address.

Who needs a certificate of limited partnership:

1. Individuals forming a limited partnership: If you are forming a limited partnership with one or more partners, you will need to file a certificate of limited partnership with the appropriate state agency.
2. Business owners seeking limited liability: Limited partnerships offer limited liability protection to their limited partners. If you want to protect your personal assets from business-related liabilities, a limited partnership can be a suitable structure.
3. Investors looking for passive involvement: Limited partners are typically investors who do not actively participate in the day-to-day operations of the partnership. If you are interested in investing in a partnership but do not wish to be involved in daily management, a limited partnership may be a suitable option.

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What is certificate of limited partnership?

A certificate of limited partnership is a legal document filed with the appropriate state authority to establish a limited partnership.

Who is required to file certificate of limited partnership?

The general partners of a limited partnership are required to file the certificate of limited partnership.

How to fill out certificate of limited partnership?

The certificate of limited partnership must typically include information such as the partnership's name, address, purpose, duration, and the names and addresses of the general partners.

What is the purpose of certificate of limited partnership?

The purpose of the certificate of limited partnership is to officially form a limited partnership and establish the rights and responsibilities of the general partners.

What information must be reported on certificate of limited partnership?

The certificate of limited partnership must include the partnership's name, address, purpose, duration, and the names and addresses of the general partners.