Limited Liability Partnership Makes Roads for Venturing Investment

Source： LIAONING BANDCN LAW FIRM  [url]www.bandcn.com.cn[/url]  written by : Liu Jun
S[/J Q8])u"{ One of the vital innovations of new Partnership Business Law of the People??s 5}F;X&H/{f ?
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Republic of China is to append limited liability system.
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9_[$M.D}4{ The article 2 of new Partnership Business Law provides: limited partnership 'h2tcke0J&rI
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enterprise is made up of general partners and limited partners, of which general "h wB ^^h dKB
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partners are unlimited, joint and severally liable for the debts of the partnership, 1q@ k;z$ED$nz

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aErB and limited partners are liable for limited liability in the limit of their investment.
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`\;TEN;vz In order to adapt the demand of developing venturing investment, limited :W3u9n~4a

v ]IW}1w partnership is able to combine special management organization or personal
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;k7LuZ6}%p-zs%VUp management wisdom, which is of excellent investment mind, to surplus fund
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under the new Partnership Business Law.
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DW8KV&x$n,PBH Furthermore, revenue provision of the new Partnership Business Law makes
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for the development of venturing investment too. Article 6 provide that partners 6j?5le{)o
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severally pay themselves income tax for the income of business or other income
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Ap^)zfPc^ according to related laws and regulations.i,xF6~-S/I7V

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:h]bQ/j8fh:f,D1R m r On the other hand, the new Partnership Business Law restricts the number of Y&~Y+}{,c'Y

q6a L)Akl O partners to fifty, but over two, so as to avoid limited partnership being the tool
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of illegal collection fund.