The Effect of California's Uniform Partnership Act of 2008 on Partnership Purposes

The Effect of California's Uniform Partnership Act of 2008 on Partnership Purposes


California's Uniform Limited Partnership Act of 2008 has changed one of the basic tenets of limited partnerships: their permitted purposes. Prior to the 2008 Act, limited partnerships could be formed only for the same purposes as a general partnership and that is to "carry on a business for profit." R. Bradbury Clark writes that the 2008 Act is modeled on the 2001 Uniform Limited Partnership Act so that it now is possible to organize a California limited partnership for any lawful purpose, other than as a banking, insurance, or trust company business.


Subscribers can access the complete commentary on lexis.com. Additional fees may be incurred.

 

Non-subscribers may purchase the complete commentary from the LexisNexis Store.