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Certificate of Limited Partnership

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Agreement of Limited Partnership of ABC, L.P.

This Agreement of Limited Partnership is made and entered into as of , 20 , by and among ABC, Inc., a corporation, as the general partner ("General Partner"), as the initial limited partner ("Initial Limited Partner") and each of the persons or entities whose names are set forth on Exhibit A attached hereto, as the limited partners ("Limited Partners").

WHEREAS, the General Partner and the Initial Limited Partner desire to document the agreement among the Partners, all upon the terms and conditions provided herein;

NOW THEREFORE, the parties hereto agree that this Agreement is hereby entered into and reads in its entirety as follows:

1. Certain Definitions. When used herein, the following terms shall have the meanings set forth below:

1.1 "Act" means the Delaware Revised Uniform Limited Partnership Act, 6 Del. Code Ann. § 17-101 through § 17-1111, as amended from time to time.

1.2 "Affiliate" means, (a) with respect to a Limited Partner, any entity or person controlling, controlled by or under common control with such Limited Partner and (b), with respect to the General Partner, (i) any shareholder of the General Partner ("Shareholders"), (ii) any of the heirs, legal representatives, assigns (by operation of law) or successors of the Shareholders, or (iii) any entity (other than the General Partner and/or the Partnership) controlled directly or indirectly by any of the Shareholders.

1.3 "Agreement" means this Amended and Restated Agreement of Limited Partnership and all exhibits hereto, as hereinafter amended from time to time.

1.4 "Assignment" of a Partnership Interest means a transfer which entitles the transferee to be allocated income, gain, loss, deduction, credit or similar items and to receive distributions to which the transferor was entitled, to the extent those items are so assigned and transferred, but which does not entitle the transferee to become or to have or exercise the rights of a Limited Partner under this Agreement.

1.5 "Bankruptcy" means the filing of a voluntary case in bankruptcy under the federal bankruptcy law, and, in addition, any other status constituting bankruptcy within the meaning of the Act.

1.6 "Capital Contribution" in respect of any Partner means the total amount of cash which has been contributed by the Partner to the capital of the Partnership.

1.7 "Certificate" means the certificate of limited partnership of the partnership executed and filed pursuant to the Act as such certificate may be hereafter amended from time to time.

1.8 "Code" means the Internal Revenue Code of 1986, as from time to time amended.

1.9 "General Partner" means ABC, Inc. and any other person or entity which is admitted to the Partnership as a substituted General Partner.

1.10 "Investment Memorandum" or "Memorandum" means that private placement memorandum dated the day of , 20.

1.11 "Limited Partner" means each person or entity whose name is set forth on Exhibit A hereto, and any other person or entity which is admitted to the Partnership as a Substituted Limited Partner.

1.12 "Majority In Interest" of the Limited Partners means Limited Partners holding per centum (%) of the Partnership Percentages.

1.13 "Offering Expenses" means fees and expenses incurred in connection with the offering of Partnership Interests including fees and expenses of attorneys, accountants and other persons incurred in connection with the formation of the Partnership and the offering of the Partnership Interests.

1.14 "Operating Cash Flow" for a specified period shall mean the amount, if any, by which the total gross cash receipts from Operations of the Partnership exceed the sum of certain expenses and reserves determined by the General Partner.

1.15 "Operating Profit or Loss" for a specified period shall mean, respectively, the excess of items of income and gain over items of deduction and loss, or the excess of items of deduction and loss over items of income and gain, from Operations of the Partnership during such period.

1.16 "Operations" shall mean all activities of the Partnership.

1.17 "Partner" means the General Partner or any Limited Partner.

1.18 "Partners" mean the General Partner and the Limited Partners.

1.19 "Partnership" means the limited partnership formed pursuant to this Agreement.

1.20 "Partnership Interest," as to any Partner, means all or any part of the interests of that Partner in the Partnership.

1.21 "Partnership Percentage" means, in the case of the General Partner, per centum (%), and, in the case of each Limited Partner, the percentage set forth opposite the name of such Limited Partner on Exhibit A attached hereto.

1.22 "Prime Rate" means the prime rate of interest as set by as the same may change from time to time.

1.23 "Property" means any acquired by the Partnership.

1.24 "Security" shall have the meaning specified in Section 2(1) of the Securities Act.

1.25 "Securities Act" means the Securities Act of 1933, as amended.

1.26 "Subscription Agreements" means those certain agreements, by and among the Partnership, the General Partner and each Limited Partner executing this Agreement pursuant to which each such Limited Partner subscribed to acquire a Partnership Interest.

1.27 "Substituted Partner" means a transferee of a Partnership Interest who becomes a Partner pursuant to the terms of this Agreement and succeeds, to the extent transferred, to the rights and powers and becomes subject to the restrictions and liabilities of the transferor Partner and to the terms of this Agreement.

1.28 "Transfer" means sell, pledge, mortgage, hypothecate, assign, transfer, distribute, encumber, donate or in any other way dispose of or enter into any agreement, arrangement or understanding to do any of the foregoing.

1.29 "Unit" means each Dollars ($) of contributed to the Partnership as a Capital Contribution.

2. Organization.

2.1. Formation. The General Partner and the Limited Partners hereby the Partnership pursuant to the Act.

2.2. Name. The name of the Partnership shall be .

2.3. Certificate. The General Partner shall file, if, as and when required by the Act, the Certificate and any amendments thereto.

2.4. The Offering. A maximum of () Units of Partnership Interest at a purchase price of $ per Unit may be issued by the General Partner on behalf of the Partnership.

3. Principal Offices. The principal office of the Partnership shall be at or such other place as the General Partner from time to time may determine.

4. Purposes of the Partnership. In general, the purpose of the Partnership shall be .

5. Term. The Partnership shall continue for a term of () years from the date of this Agreement unless prior to such date the General Partner and a Majority In Interest of the Limited Partners elect to extend the term of the Partnership for an additional () years.

6. Capital Contributions.

6.1 General Partner. The General Partner shall make a capital contribution to the Partnership of $.

6.2. Limited Partners. The Initial Limited Partner has made a capital contribution of $ to the Partnership.

All payments by the Limited Partners for Units shall be in cash.

7. Rights, Powers and Obligations of the General Partner.

7.1. Powers. Subject to the terms and provisions of this Agreement, the management and control of the Partnership and its business, assets and affairs shall rest exclusively with the General Partner.

7.3. Limitations on Powers and Authority of the General Partner. Without the approval or written consent of a Majority In Interest of the Partners, the General Partner shall not have the right or power to do the following:

(a) Borrow money on behalf of the Partnership.

(b) Encumber assets of the Partnership.

(c) Admit a person as a substitute or additional General Partner.

(d) Admit a person as a limited partner except as expressly permitted.

(e) Borrow, lend, sell or buy assets to or from the General Partner or its Affiliates.

(f) Possess, sell, transfer, assign, mortgage or pledge Partnership property other than for a Partnership purpose.

(g) Amend this Agreement.

(h) Execute an assignment for the benefit of creditors.

(i) Engage in any business except as necessary or appropriate to carry out Operations.

(j) Merge the Partnership with or into any entity.

8. Status of Limited Partner.

8.1. Limited Liability. The Limited Partners shall not be bound by, or personally liable for, the expenses, liabilities or obligations of the Partnership, except as provided in the Act.

8.3. Certain Rights of Limited Partners.

(a) Information rights as required by law.

(b) Right to distributions as provided in this Agreement.

(c) No right to demand payment of Capital Account except as provided herein.

9. Expenses.

9.2. Advances for Expenses. Loans to the Partnership shall bear interest at per centum (%) above the Prime Rate.

10. Capital Accounts; Allocations of Income and Loss.

10.2. Operating Profit or Loss of the Partnership for each fiscal year, if any, shall be allocated among the Partners in proportion with their respective Partnership Percentages.

11. Distributions.

11.1. Operating Cash Flow shall be promptly distributed to the Partners in proportion with their Partnership Percentages.

11.2. If distributions of property are made by the Partnership, such property shall be distributed to each Partner in undivided interests if not fungible, or in appropriate units if fungible.

12. Transfers of Partnership Interests.

12.1. General Prohibition. Except through a Permitted Transfer, no Partner shall Transfer all or any part of such Partner's Partnership Interest without prior written consent.

12.2. Permitted Transfer. A Transfer by a Partner shall be deemed a Permitted Transfer if: (a) in the case of the General Partner, such Transfer is to an Affiliate; (b) in the case of a Limited Partner, such Transfer is to an Affiliate; or (c) such Transfer is by gift, bequest or intestate transfer to family members.

13. Withdrawal of Partners; Removal of the General Partner; Admission of Substitute General Partner; Death or Incapacity of Limited Partners.

13.2. Removal of General Partner. The General Partner shall be removed and cease to be the general partner of the Partnership in the event the General Partner:

(i) Bankruptcy or insolvency event occurs.

(ii) Assignment for benefit of creditors.

(iii) Voluntary bankruptcy petition filed.

(xii) Removed by the vote of % of the Partnership Interests.

14. Dissolution and Winding Up of Partnership.

14.2. Election Upon Dissolution. Upon a dissolution of the Partnership, % of the Limited Partners may affirmatively elect to continue the business of the Partnership and select a substitute General Partner.

14.3. Winding Up. Upon dissolution, the Partnership assets shall be applied and distributed in the following order:

(a) Payment of debts and liabilities.

(b) Payment of debts and liabilities for distributions to Partners.

(c) Distribution to Partners in accordance with positive Capital Account balances.

15. Books of Account; Accounting and Reports; Banking; Tax Matters; Partnership Filings.

15.2. Fiscal Year. The fiscal year of the Partnership shall be the taxable year required for federal income tax purposes.

15.3(a). Annual report shall be furnished within days after the end of each fiscal year.

15.3(b). Tax information shall be delivered within days after the end of each Fiscal Year.

15.4. Banking. All funds of the Partnership shall be deposited in separate bank accounts determined by the General Partner.

16. Power of Attorney and Appointment of Agent.

Each Limited Partner hereby appoints the General Partner as attorney-in-fact with full power of substitution and resubstitution.

17. Liability and Indemnification of General Partner.

17.1. Exoneration. Except in case of gross negligence or willful misconduct, the General Partner shall not be liable if acting in good faith to further the best interests of the Partnership.

17.2. Indemnification. The Partnership shall indemnify and hold harmless the General Partner and its agents and employees to the fullest extent permitted by law.

18. Miscellaneous.

18.1. Notices. Address for the General Partner:

ABC, Inc.

18.15. SECURITIES LAW. THE UNITS EVIDENCED BY THIS AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER CERTAIN STATE SECURITIES LAWS.

IN WITNESS WHEREOF, this Amended and Restated Agreement of Limited Partnership has been executed effective as of the date hereof.

GENERAL PARTNER:

ABC, L.P.

By:

Title:

INITIAL LIMITED PARTNER:

By:

John H. Smith

LIMITED PARTNERS:

By:

for the Limited Partners

EXHIBIT A

GENERAL PARTNER[S]

Name and Address

Partnership Percentage

LIMITED PARTNERS

Name and Address

Partnership Percentage

Enter text✕

What the Certificate of Limited Partnership Is

Certificate of Limited Partnership is a formal filing that registers a limited partnership with the appropriate state authority and records the names of general and limited partners, the partnership’s legal name, principal place of business, and the agent for service of process. The certificate creates public notice of the entity’s existence and clarifies which partners hold limited liability versus general partner responsibility. It is distinct from a partnership agreement, which governs internal rights, allocation of profits, and management procedures among partners.

Why the Certificate Matters for Limited Partnerships

Filing a Certificate of Limited Partnership establishes statutory existence, limits liability for listed limited partners, and enables the partnership to transact with banks, title companies, and regulators. The certificate also creates public notice so third parties can verify who may bind the partnership under state law.

Why the Certificate Matters for Limited Partnerships

Who Typically Prepares or Requests This Certificate

Typical users who prepare or request this certificate include legal counsel, formation agents, and administrators responsible for state compliance.

  • Formation attorneys and registered agents preparing state filings and ensuring statutory compliance.
  • General partners or managing partners who must attest to business purpose and management authority.
  • Banks, title companies, and vendors that require proof of partnership status before extending services.

These roles routinely exchange the certificate during banking, contracting, and regulatory onboarding tasks.

Common Signatory and Administrative Roles

General Partner

A general partner signs the Certificate of Limited Partnership to accept managerial authority and unlimited liability for partnership obligations. They confirm the partnership’s name, purpose, and registered agent, and are responsible for filing amendments and annual statements as required by state law.

Registered Agent

A registered agent receives service of process and official notices on behalf of the limited partnership. Companies acting in this role ensure the Certificate lists a physical, in-state address and help maintain good standing by forwarding legal correspondence and filing reminders.

Security and Compliance Considerations for Electronic Certificates

Encryption: TLS 1.2/1.3 in transit, AES-256 at rest.
Access Control: Role-based permissions and single sign-on options.
Audit Trail: Complete timestamped signing history and IP logs.
HIPAA (BAA): BAA available for protected health information workflows.
ESIGN / UETA: Compliant with federal ESIGN and state UETA statutes.
Certifications: SOC 2 Type II, ISO 27001, PCI DSS.

Penalties and Risks of Incorrect or Late Filings

Filing Errors: State rejection or resubmission delay.
Late Filing: Potential fines and loss of priority.
Incorrect Partner Names: Tax reporting and banking issues.
Missing Notary: Acceptance may be denied.
Tax Consequences: Backup withholding risk.
Legal Exposure: Limited partners may lose protection.

Common Preparation Mistakes to Avoid

  • Using informal or trade names instead of the partnership’s full legal name can create conflicts with bank accounts and public records, requiring amendment filings and administrative delays.
  • Failing to list a valid in-state registered agent or physical address can lead to service problems and may prevent acceptance by the Secretary of State.
  • Omitting required details about partners or capital contributions where statute demands them can affect liability allocation and create corrective-filing costs.
  • Submitting inconsistent information across formation documents, tax filings, and bank records increases audit risk and complicates dispute resolution.

Step-by-Step: How to Complete and File the Certificate

Follow these sequential steps to complete and file a Certificate of Limited Partnership accurately and consistently.

  • 01
    Prepare Information: Assemble full legal names, addresses, and stated business purpose for all partners.
  • 02
    Complete Form: Enter details exactly; use MM/DD/YYYY for dates and avoid abbreviations.
  • 03
    Notarize: Obtain required notarization and witness signatures if your state requires them.
  • 04
    File with State: Submit to the Secretary of State through paper or e-filing and pay the filing fee.

Where to File and How Documents Flow

Typical routing: complete the certificate, obtain signatures and notarization as required, then file with the designated state office or online portal for recording.

  • State SOS: Primary filing destination for most limited partnership certificates.
  • Mail Filing: Send paper filing to the state address with the required payment.
  • Online Portal: Use state e-filing systems where available for faster processing and confirmation.
  • Retain Copies: Keep a certified filed copy for partners, bank, and legal records.

Essential Elements to Include on a Professional Certificate

A professional Certificate of Limited Partnership includes essential identification, management, and statutory details so state authorities can record the entity and third parties can verify partnership status.

Partnership Name

Provide the exact legal name of the limited partnership as intended for state registration, avoiding abbreviations or trade names; inaccuracies can cause rejection or require amendment filings to correct public records.

Principal Office

List the partnership’s principal place of business with street address, city, state, and ZIP; some states require an in-state street address rather than a P.O. box for service and registration purposes.

Registered Agent

Name and physical address of the agent for service of process who accepts legal notices; include agent consent if required by state rules to ensure the filing is accepted without delay.

Partner Information

Identify general and limited partners by full legal name and address; specify capital contributions and roles when statutorily required to clarify liability and ownership percentages for third-party reliance.

Duration / Effective Date

State the effective date and, if applicable, duration of the partnership; this determines when rights and obligations commence and affects filing deadlines and applicable statutes of limitation.

Signatures & Notary

Authorized signatures, witness attestations, and notary acknowledgements must meet state-specific requirements; missing notarization or incorrect witnessing can render the certificate invalid for public recording.

Best Practices to Reduce Delays and Risk

Follow these best practices to reduce processing delays and legal exposure when preparing a Certificate of Limited Partnership.

Use the full entity and partner legal names
Always use the exact legal spelling used on government IDs and formation documents. Consistency across certificate, partnership agreement, tax forms, and bank accounts prevents mismatches that can cause account freezes, tax reporting errors, or costly amendments.
Obtain written consent from registered agent
Secure and retain a written consent from the registered agent before filing. Some states require explicit acknowledgment on the Certificate; lacking consent can cause rejection and delay service of process, affecting compliance timelines.
Use the state-specific filing form and instructions
Download and follow the Secretary of State’s exact form and filing instructions for your jurisdiction. Generic forms may omit mandatory language or formatting, leading to rejections or additional fees for refiled documents.
Keep certified copies for partners and vendors
After the state issues a filed certificate or stamped copy, distribute certified copies to all partners and the partnership’s records. Financial institutions and vendors commonly request the filed certificate as proof of registration.

Real-World Examples of How a Filed Certificate Helps

Examples from formation and real estate practice show how a recorded certificate supports closings, banking, and regulatory compliance without unnecessary in-person steps.

Optica Ventures

Optica Ventures used an executed Certificate of Limited Partnership to open escrow and satisfy lender due diligence without in-person meetings.

  • Expedited bank onboarding and account setup.
  • With the recorded certificate and consistent partner records, the company completed financing and property closings more predictably, avoiding follow-up document requests and minimizing closing delays while counsel retained the filed copy for corporate records.

Martin Properties

Martin Properties executed the certificate online to close a rental property partnership and present proof to title companies.

  • Mobile execution by remote partners and notary.
  • Executing the certificate digitally reduced travel and coordination time; the firm kept a certified copy for investor records and to meet lender conditions at closing, supporting faster deal completion.

Configuring an Electronic Signing Workflow for the Certificate

Configure an e-filing workflow to match the certificate’s requirements and state rules before sending for signatures.

Field Configuration
Signature field placement and required initials Place signature, date, and initial fields where state requires; include notary block if needed.
Signer authentication method (email, SMS, KBA) Use email or SMS for basic verification; enable KBA or two-factor when stronger identity proof is needed.
Conditional fields for general versus limited partners Show capital contribution fields only when the state form or partnership agreement requires partner-level detail.
Automatic distribution and certified copy storage settings Send filed and signed copies to partners, bank, and legal counsel and store a certified version in secure archives.

Technical Requirements for eSigning and eFiling

Electronic filing and remote signing require platform support for PDF, identity verification, and secure storage to meet state and federal rules.

  • Formats: PDF, DOCX, and fillable forms supported.
  • Integrations: Connectors for NetSuite, Salesforce, Microsoft 365.
  • Authentication: Email, SMS, KBA, and two-factor options.

Timing: Filing, Amendments, and Related Deadlines

Timing matters for filing, amendments, and linked tax reporting; follow both state filing windows and federal tax deadlines to avoid penalties.

Initial filing at formation start date:

Submit when partnership begins operations to create public record.

Amendment filing for partner or address changes:

File promptly after change; some states require filing within 30 days.

Annual report or statement filing periods:

Many states require annual reports with fees to maintain good standing.

Linked federal tax filing and information returns deadlines:

Provide accurate partner data for Form 1065 and 1099 reporting by IRS deadlines.

Notary and witness timing requirements at signing:

Complete notarization at signing; remote notarization where permitted speeds processing.

Key Milestones From Draft to Filed Record

Key milestones from document preparation through filing and record distribution help teams track progress and avoid missed compliance steps.

01

Prepare documents

Gather partner details, agreement, and supporting ID documents.

02

Obtain signatures

Collect authorized signatures, witness attestations, and notarization as required.

03

File with state

Submit certificate, pay the fee, and receive a filed copy or acknowledgment.

04

Distribute certified copies

Provide partners, banks, and legal counsel with the certified filed copy.

Representative eSignature Vendor Comparison for Filing Workflows

A concise pricing and capability snapshot for common eSignature vendors; signNow is listed first to align columns. Confirm vendor pricing and plan details directly with each provider.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Frequently Asked Questions and Troubleshooting

Answers to common questions about signing, notarization, amendments, and filing rejections for Certificates of Limited Partnership.


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