corporate general partner
A corporation or LLC used as the general partner of a limited partnership so that no individual bears the general partner's unlimited liability; the owners control it through its board while remaining limited partners, and must act through it with proper formalities.
In SpanishEn español
socio general persona moral
Una sociedad usada como general partner para que ninguna persona física cargue con la responsabilidad ilimitada; los dueños la controlan por su consejo y siguen siendo comanditarios. Deben actuar a través de ella, con resoluciones formales, y no como comanditarios.
ExamplesEjemplos
- The family set up Ranch GP, Inc. to run the limited partnership that owns the land. La familia creó Ranch GP, Inc. para administrar la limited partnership dueña de la tierra.
RelatedRelacionados: limited partnership and LLP, limited partner and the control rule
In your flashcardsEn tus flashcards