Ohio Rev. Code Ann. § 1782.25

Person may be both general and limited partner

Applied in 1 court decision — leading case 169 F. Supp. 2d 695 - Bob's Beverage, Inc. v. Acme, Inc. (1999)

Most recently applied in 169 F. Supp. 2d 695 - Bob's Beverage, Inc. v. Acme, Inc. (January 1999)

Effective: April 1, 1985; Latest Legislation: House Bill 607 - 115th General Assembly

A general partner of a limited partnership may make contributions to, 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 the profits, losses, and distributions of, the limited partnership as a limited partner.

A person who is both a general and a limited partner shall have all the rights and powers, and be subject to all the restrictions and liabilities of a general partner. Except as otherwise provided in the partnership agreement, a person who is both a general and a limited partner shall have the powers, and be subject to the restrictions, of a limited partner to the extent of his participation in the partnership as a limited partner.

Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.