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.
The general partners are liable for partnership obligations to the same extent as partners of general partnerships. Limited partners, however, are generally not liable for partnership obligations; their only risk is their agreed capital contribution, or as provided in the partnership agreement.o register cancellation or dissolution of the limited partnership, the company must complete Limited Partnership Certificate of Cancellation (Secretary of State Form LP-4/7) and submit it to the Secretary of State.