[mimi]

Could someone confirm whether my following understanding is correct or not. If wrong, please guide me.. thank you!

Whether a partner/member’s leaving, death, bankruptcy etc becomes a trigger to dissolve…
1-1. < General Partnership > becomes a trigger under UPA
1-2. < GP > don’t trigger under RUPA
2-1. < Limited Partnership > become a trigger when it is a general partner
2-2. < LP > don’t trigger when it is a limited partner
3. < Limited Liability Company > become a trigger

Share in profit and loss…
A. < GP > equal among all partners (unless stated proportions in an agreement)
B. < LP > proportionate to capital contribution
C. < LLC > proportionate to capital contribution