Author: Platinum Black Services, Llc

Publisher:

Published: 2017-08-19

Total Pages: 138

ISBN-13: 9781973857969

Starting an LP (Limited Partnership)? Started an LP and need to issue partnership certificates that look professional and are easy to use? If yes, then this book is for you!What is an LP (Limited Partnership)?An LP is a legal business structure, with two or more individuals, where at least one person is a "general partner" and at least one person is a "limited partner." The general partner is responsible for the day-to-day operations of the company and is liable for its debts and obligations. The limited partner may or may not be involved with the company's daily operations and has limited liability for its debts and obligations. Owners of an LP are referred to as "partners."What is an LP partnership certificate?An LP partnership certificate is a document that certifies ownership and specifies the number of units or percentage owned by a partner in an LP.While LP partnership certificates aren't required by federal or state law, it is still highly recommended for LPs to use them. Without an LP partnership certificate to show evidence of ownership a partner may have no say or control in how an LP is structured or operates. LP partnership certificates should be issued during the initial meeting of its partners. A partnership transfer ledger must also be used to accurately record partnership transactions whether it is an initial issuance of units or percentage of ownership or any subsequent transfers during the LP's existence.This book contains 20 blank LP partnership certificates (for the use of any LP organized in the state of Illinois), a partnership transfer ledger to record buy-sell transactions of units or percentage of ownership, and bill of sale forms to document the purchase of units or percentage of ownership. Other titles available:LP Partnership Certificates Corporate Starter Kit: Organized in the State of (Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming)Other books available:- Common Stock Certificates Corporate Starter Kit: Incorporated in the State of (available in all 50 states)- LLC Membership Certificates Corporate Starter Kit: Organized in the State of (available in all 50 states)- GP Partnership Certificates Corporate Starter Kit: Established in the State of (available in all 50 states)- LLP Partnership Certificates Corporate Starter Kit: Organized in the State of (available in all 50 states)- LLLP Partnership Certificates Corporate Starter Kit: Organized in the State of (available in all qualifying states)- NP Membership Certificates Corporate Starter Kit: Incorporated in the State of (available in all 50 states)