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Are Ltd. Partnerships Entities of the State?

Contracts, Trusts & the corporation sole; what they are & how they relate with one another.

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1wealthbuilder
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Are Ltd. Partnerships Entities of the State?

Postby 1wealthbuilder » Tuesday December 12th, 2006 9:15 am MST

[shock] Without the ability to quote ver batim; I believe Admin made a statement in another post that in his opinion LP's are the superior business form allowing for controll without ownership (paraphrased).
:h: Inserted by Admin:
Admin never made such a statement.

My question is how does that statement square with the fact that we have to ask for permission from the state to be a LP. Thus granting them access to dealings and ultimate controll over operation (notwithstanding the LP agreement).
Inserted by Admin:
No such permission is necessary from the State; and, “Limited Partnership Agreements” are never “notwithstanding” to the Limited Partnerships formed by them.
The heading of this inquiry is made in violation of Rule 14; wherein it asked a question that is not a part of the content of the inquiry itself. Respectively, the answer to that question is: “No.”
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Citizensoldier
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Re: Are Ltd. Partnerships Entities of the State?

Postby Citizensoldier » Wednesday December 13th, 2006 7:31 am MST

1wealthbuilder,

You may find the information you are looking for in the thread entitled "Owning a Business" at http://teamlawproductions.com/phpBB/viewtopic.php?t=67

CS

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Re: Are Ltd. Partnerships Entities of the State?

Postby Admin » Thursday December 14th, 2006 4:25 pm MST

:h: 1wealthbuilder:
We don’t know where you got the idea that parties related to a Limited Partnership have to get permission from the Corp. State to form their partnerships; but, we suggest a closer review of the Constitution for the United States of America might be in order particularly at:
Article 1 § 10, Clause 1 the Founding Fathers wrote:No State shall…pass any…Law impairing the Obligation of Contracts, or grant any Title of Nobility.
Then in the Constitution of the United States of America at:
The Bill of Rights, Article 10 the Founding Fathers wrote:The power not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
These three elements from our Constitutions set the record on the States’ ability to limit the people from privately forming Limited Partnerships.
  1. They have no right to impair contracts;
  2. They have no right to raise themselves above the people as nobles to usurp controls over the people; and,
  3. Where the Constitution for the United States of America explicitly prohibits such power from the States, the right to the same remains with and is forever secured to the people—if they know how to use it.
Thus we deny your allegation that the state has any such power or authority, unless you privately grant it to them with some private application which you may file but cannot be compelled to file, the choice is obviously yours.

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