Q 117

Which of the following best describes the Revised Uniform Limited Partnership Act? A) It is a federal statute governing all limited partnerships. B) It is a standard law that is state law in the states that have enacted it, generally applies to limited partnerships, and replaces an earlier uniform law covering limited partnerships. C) It is a standard law passed in every state that applies to limited partnerships, and takes precedence over any contrary provisions in a limited partnership agreement. D) It is a federal statute that states must choose to implement. E) It is a standard law that applies in all states, and applies to all aspects of limited partnerships, except for dissolution.

Multiple Choice