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General Partner |
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General Partner A partner in a business who has unlimited liability. Notes: If a general partner is ever required to meet the partnership's obligations, even his or her personal assets may be subject to liquidation . Often a general partner is also the managing partner, which means this person is active in the day-to-day operations of the partnership. In the case of a limited partnership, only one of the partners will be the general partner and have unlimited liability. The other partners will have limited liability, so their personal assets would not be at risk. General partner How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Typically, it has one limited partner, a corporation that owns 100% of the partnership capital, and one general partner (also a corporation (or "GmbH")) with no equity interest and no share in the company's profits and losses. NYSE:EPE) announced today that the Board of Directors of its general partner declared an increase in its quarterly cash distribution to partners to $0. Issue: Will the conversion of Dick's general partner interest to a limited partner interest achieve his goal of limited liability? |
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General Partner
