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#1040372 - 09/11/08 06:16 PM Possible?-Corporation is member of partnership
CO Officer Offline
100 Club
Joined: Feb 2003
Posts: 202
USA
We had a customer open a parntership, claiming that a corporation is the other partner. Is this possible? I guess I have always assumed partnerships were between natural persons.

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#1040640 - 09/11/08 09:01 PM Re: Possible?-Corporation is member of partnership CO Officer
Mint Julep Offline
Diamond Poster
Mint Julep
Joined: Oct 2007
Posts: 1,152
Tennessee
yes, it is possible.
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#1040741 - 09/12/08 01:47 AM Re: Possible?-Corporation is member of partnership Mint Julep
Dazed and Confused Offline
Gold Star
Dazed and Confused
Joined: Feb 2006
Posts: 250
Big XII South
Agree with MJ, and corporations can be members in LLC as well. The bylaws (or partnership agreement) should include provisions that allow a corporation to be a partner.

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#1040743 - 09/12/08 01:52 AM Re: Possible?-Corporation is member of partnership Dazed and Confused
Tom at HOME Offline
Diamond Poster
Joined: Oct 2005
Posts: 1,139
Not is it possible but it is very common. Sometimes these partnerships are Joint Ventures that are not registered.

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