Lithuania Banks

Limited partnership (Komanditiné ùkiné bendrija , KUB)

A limited partnership consists of general and limited partners. A limited partnership is a legal person of unlimited liability, however only with respect to the general members thereof. The general members of the limited partnership shall be jointly and severally liable with all of their property for the obligations of the limited partnership, also after its liquidation, whereas limited members are liable only for the part of their property that is transferred for the joint activity of the partnership under the agreement.

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