Bell Rock glossary
Limited Partner
An investor in a limited partnership with rights, commitments and liability determined by its agreement and the statutory framework.
A limited partner is an investor in an exempted limited partnership. Its funding obligations and economic rights are governed by the partnership agreement, including any uncalled commitments. The statutory liability rules distinguish participation in conducting the business from permitted safe-harbour activities. Liability is not automatically lost whenever an investor exercises consent or advisory rights; the statutory conditions and the facts of the relevant transaction matter.
Related guidance
Limited Partnership Agreement · General Partner
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