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How can limited liability be lost by a limited partner?

In: Law & Legal Issues, Business Law, Incorporation [Edit categories]

Answer:

If the "limited partner" was serving in that capacity at the time of whatever it was that occurred, they continue to enjoy limited immunity for THAT SPECIFIC event even though they may no longer be associated with the business. They are only personally liable for events that preceded or post-dated their limited partner capacity.

First answer by Bob811. Last edit by Bob811. Contributor trust: 1148 [recommend contributor ]. Question popularity: 4 [recommend question].

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