Missouri Laws 359.051 – Records to be kept
1. Each limited partnership shall keep the following:
(1) A current and a past list of the full name and last known mailing address of each partner, specifying the general partners and the limited partners, in alphabetical order;
Attorney's Note
Under the Missouri Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class A misdemeanor | up to 1 year | up to $2,000 |
Terms Used In Missouri Laws 359.051
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Certificate of limited partnership: the certificate referred to in section 359. See Missouri Laws 359.011
- Contribution: any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in his capacity as a partner. See Missouri Laws 359.011
- Conviction: A judgement of guilt against a criminal defendant.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- General partner: a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner. See Missouri Laws 359.011
- Partner: a limited or general partner. See Missouri Laws 359.011
- 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.
- Partnership agreement: any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business. See Missouri Laws 359.011
- Property: includes real and personal property. See Missouri Laws 1.020
- State: a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Missouri Laws 359.011
(2) A copy of the certificate of limited partnership and all certificates of amendment thereto, together with executed copies of any powers of attorney pursuant to which any certificate has been executed;
(3) Copies of the limited partnership’s federal, state and local income tax returns and reports, if any, for the three most recent years;
(4) Copies of any then effective written partnership agreements and of any financial statements of the limited partnership for the three most recent years;
(5) Unless contained in a written partnership agreement, a writing setting out:
(a) The amount of cash and a statement of the agreed value of the other property or services contributed by each partner and which each partner has agreed to contribute;
(b) The times at which or events on the happening of which any additional contributions agreed to be made by each partner are to be made;
(c) Any right of a partner to receive, or a general partner to make, distributions to a partner which include a return of all or any part of the partner’s contribution; and
(d) Any events upon the happening of which the limited partnership is to be dissolved and its affairs wound up.
2. Records kept under this section are subject to inspection and copying at the reasonable request, and at the expense, of any partner during ordinary business hours. The secretary of state may request in writing that the limited partnership forward to him a complete copy of the current or past or both partnership lists kept under this section without cost to the secretary of state.
3. Any general partner of a limited partnership may be individually subject to the following sanctions if the general partner fails to deliver the partnership list to the secretary of state’s office within twenty days after receiving the written demand for such list:
(1) Assessed a civil penalty in the amount of fifty dollars a day for each day the list has not been delivered to the secretary of state but not to exceed ten thousand dollars;
(2) Prosecuted criminally with any resulting conviction being deemed a class A misdemeanor.