Number of visits: More than 10. Weâve been shooting at Back 40 since we started in Sporting Clays, about 2 years ago. They continue to improve the club constantly, and just went to automatic traps on the Green course about a month ago.
The limited partners can only receive liability protection by filing a Certificate of Formation of Limited Partnership with the State of Texas pursuant to Section 3.001 of the TBOC. It is recommended that all limited partnerships have a limited partnership agreement.
1 Unlimited liability for general partners only. 2  In a limited partnership (LP), at least one partner has unlimited liabilityâthe general partner(s). 3  The other partners (limited partners) have limited liability, meaning their personal assets typically cannot be used to satisfy business debts and liabilities. In a limited partnership (LP), at least one partner has unlimited liabilityâthe general partner(s). 2  The other partners (limited partners) have limited liability, meaning their personal assets typically cannot be used to satisfy business debts and liabilities.