A limited partner shall have the same rights as a general partner to

Terms Used In Minnesota Statutes 322.10

  • 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.

(1) have the partnership books kept at the principal place of business of the partnership, and at all times to inspect and copy any of them;

(2) have on demand full and true information of all things affecting the partnership, and a formal account of the partnership affairs whenever circumstances render it just and reasonable; and

(3) have a dissolution and winding up by decree of court.

A limited partner shall have the right to receive a share of the profits or other compensation by way of income, and to the return of that partner’s contribution as provided in sections 322.15 and 322.16.