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This document is used to register a Foreign Limited Partnership in the State of Arkansas in compliance with the Revised Limited Partnership Act of 1991.
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How to fill out statement of foreign limited
How to fill out Statement of Foreign Limited Partnership
01
Obtain the form for the Statement of Foreign Limited Partnership from the appropriate state office or website.
02
Provide the name of the foreign limited partnership exactly as it appears in its home jurisdiction.
03
List the principal office address of the foreign limited partnership.
04
Identify the filing entity, including the jurisdiction where the partnership was formed.
05
Provide the names and addresses of the general partners of the foreign limited partnership.
06
Include the duration of the partnership, if it's not perpetual.
07
Indicate whether the partnership will be engaging in business in the state.
08
Signature of an authorized person must be included at the end of the form.
09
Submit the completed form along with any required fees to the appropriate state office.
Who needs Statement of Foreign Limited Partnership?
01
Any foreign limited partnership that intends to conduct business in a different state needs to file this statement.
02
Businesses looking to formalize their legal status and gain legal recognition in a new jurisdiction require this document.
03
Partners who want to protect their personal liability and maintain compliance with state laws.
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People Also Ask about
What is a foreign limited partnership?
A Foreign Limited Partnership is composed of one or more general partners and one or more limited partners. The general partners manage the business and share fully in its profits and losses. Limited partners share in the profits of the business, but their losses are limited to the extent of their investment.
What is an example of a limited partnership?
Some examples of business ventures that commonly use the limited partnership structure include: Shopping malls, apartment complexes and other real estate businesses: With the limited partnership structure, businesses in the real estate industry can provide passive income from rent to the limited partners.
What is a limited partnership statement?
The Limited Partnership Agreement identifies what individual or other entity serves as the general partner. It also lists the ownership interests, profit percentage interest and any special rights of the general partner and limited partners.
What is the purpose of a limited partnership agreement?
A limited partnership agreement helps protect your business into the future by outlining each partner's roles and responsibilities, as well as how they share in the business profits. You should use a limited partnership agreement if you want to form a limited partnership or formalize an existing limited partnership.
What defines a limited partnership?
Limited Partnership (LP) is a special partnership type with limited legal liabilities. General partners are personally liable. Limited partners are liable for their business investment. Management and control is exercised through general partners. Limited partners do not have any formal control.
What is a limited partnership in English?
A limited partnership (LP) is a business structure where at least two partners own the company, but only one of them manages the business.
What are the 4 types of partnership?
There are three relatively common partnership types: general partnership (GP), limited partnership (LP) and limited liability partnership (LLP). A fourth, the limited liability limited partnership (LLLP), is not recognized in all states.
What is limited partnership in simple words?
A limited partnership is a form of partnership in which some of the partners contribute only financially and are liable only to the extent of the amount of money that they have invested. In a limited partnership structure, limited partners are shielded to the extent of their investment.
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What is Statement of Foreign Limited Partnership?
A Statement of Foreign Limited Partnership is a legal document that a foreign limited partnership must file with a state in order to register to do business there. It provides essential information about the partnership and its operations.
Who is required to file Statement of Foreign Limited Partnership?
Foreign limited partnerships that wish to operate in a state different from the one where they were formed are required to file a Statement of Foreign Limited Partnership in that state.
How to fill out Statement of Foreign Limited Partnership?
To fill out a Statement of Foreign Limited Partnership, one must provide the name of the partnership, the state or country where it was formed, the date of formation, and information about the general partner(s) and registered agent, along with any other required details specific to the state.
What is the purpose of Statement of Foreign Limited Partnership?
The purpose of the Statement of Foreign Limited Partnership is to legally recognize the foreign limited partnership's right to conduct business within the state, protect the interests of the public and the partnership, and ensure compliance with state laws.
What information must be reported on Statement of Foreign Limited Partnership?
The information that must be reported includes the name of the foreign partnership, its formation state or country, the principal office address, the name and address of the registered agent, and details of the general partners, among other specifics required by the state.
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