[Anonymous]

On page 83 of the REG Ninja Notes it states:

“A general partner can also be a Limited Partner at the same time. A Limited Partner, however, cannot also be a General Partner and maintain limited liability.”

Doesn’t those two statements contradict each other? For instance, Bob is a general partner, so Bob can also be a limited partner. So now Bob is BOTH a general and a limited partner. Doesn’t that negate the second statement where a limited partner can’t also be a general partner?

[Anonymous]

Before purchase. Purchase. After purchase

General partner. Limit interst. General partner

Limited partner. General interest General partner

You can see general partner still gernenal partner but limited partner no longer limiter partner.

[Anonymous]

Before purchase. Purchase. After purchase

General partner. Limit interst. General partner

Limited partner. General interest General partner

You can see general partner still gernenal partner but limited partner no longer limiter partner.

[Author]

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