Certificate of Registered Series of a Limited Partnership - Delaware

Certificate of Registered Series of a Limited Partnership is a legal document that was released by the Delaware Department of State - a government authority operating within Delaware.

FAQ

Q: What is a Certificate of Registered Series of a Limited Partnership?
A: A Certificate of Registered Series of a Limited Partnership is a legal document that establishes and registers a specific series within a limited partnership in Delaware.

Q: What is a limited partnership?
A: A limited partnership is a business structure that consists of both general partners, who manage the business and have personal liability, and limited partners, who invest in the business but have limited liability.

Q: What is a series within a limited partnership?
A: A series within a limited partnership is a distinct and separate subset of the partnership's assets, liabilities, and operations. Each series can have its own distinct name, rights, and obligations.

Q: Why would a limited partnership use registered series?
A: A limited partnership may use registered series to segregate and protect different assets, liabilities, or operations. Each series has its own separate legal identity and limited liability, providing additional flexibility and asset protection.

Q: How is a Certificate of Registered Series of a Limited Partnership filed?
A: A Certificate of Registered Series of a Limited Partnership is filed with the Delaware Secretary of State. It requires specific information about the limited partnership and the series being established.

Q: What information is required in a Certificate of Registered Series of a Limited Partnership?
A: The information required may vary, but typically includes the name of the limited partnership, the series name, a statement of the limited liability and legal independence of the series, and the name and address of the series' registered agent.

Q: How much does it cost to file a Certificate of Registered Series of a Limited Partnership?
A: The filing fee for a Certificate of Registered Series of a Limited Partnership in Delaware is typically around $200, but it can vary depending on the specific requirements and the number of series being registered.

Q: What are the benefits of using a registered series in a limited partnership?
A: Some benefits of using a registered series in a limited partnership include asset protection, flexibility in managing different subsets of the partnership's operations, and clarity in separating liabilities and obligations between different series.

Q: Can a registered series in a limited partnership have its own bank account?
A: Yes, a registered series in a limited partnership can have its own bank account. Each series has its own separate legal identity, allowing it to enter into contracts, hold assets, and manage its own finances.

Q: Is a Certificate of Registered Series of a Limited Partnership required in all states?
A: No, a Certificate of Registered Series of a Limited Partnership is specific to Delaware and may not be required in other states. It is important to consult with legal counsel and understand the requirements of the state where the limited partnership is being formed or operated.