Regarding Limited Partners

question 61

Multiple Choice

Regarding limited partners,

• A) they may withdraw from the partnership at any time, but they forfeit their investment if they withdraw early.
• B) they may not withdraw before the time that the partners have agreed the partnership will terminate.
• C) if the partnership agreement is silent as to notice required prior to termination, 90 days' written notice is required before the limited partner may withdraw.
• D) they must obtain a court order to withdraw because of their limited liability and its effect on the remaining partners and third parties dealing with the business.