Florida Statutes 620.1302 – No right or power as limited partner to bind limited partnership; certain approval rights
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Terms Used In Florida Statutes 620.1302
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(1) A limited partner does not have the right or the power as a limited partner to act for or bind the limited partnership.
(2) The limited partners have only those approval rights as are described in s. 620.1406.