Vermont Statutes Title 11 Sec. 3481
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Terms Used In Vermont Statutes Title 11 Sec. 3481
- foreign limited partnership: means a partnership formed under laws other than the laws of this State and having as partners one or more general partners and one or more limited partners. See
- 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.
- State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See
§ 3481. Law governing
Subject to the constitution of this State, the laws of the state under which a foreign limited partnership is organized govern its organization and internal affairs and the liability of its limited partners, and a foreign limited partnership may not be denied registration by reason of any difference between those laws and the laws of this State. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)