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Legal Advantages: Limited Partnership

  • A charging order is the sole remedy of the creditor of a partner, preventing foreclosure of the partnership interest and protecting other partners from adverse economic impacts. NRS 88.535 
  • Limited partnerships have flexibility to govern themselves under either the Uniform Limited Partnership Act, or take advantage of the unique benefits of the Nevada Revised Statutes.  NRS Chapter 87A, NRS Chapter 88
  • Availability of electing Limited Liability Limited Partnership status to provide personal indemnification for the general partners, if desired.  NRS 87A.630, NRS 88.606
  • Perpetual life of a limited partnership is allowed.  87A.155
  • Professional use of a limited partnership is allowed. NRS 88.342
Source: http://www.leg.state.nv.us/
Nevada Secretary of State, Ross Miller.  Copyright 2009. All rights reserved. Terms of Use