35-12-508. Records to be kept. - Montana Statutes

     35-12-508. Records to be kept. (1) Each limited partnership shall keep at the principal office the following:
     (a) a current list of the full name and last-known business address of each partner, separately identifying the general partners, in alphabetical order, and the limited partners, in alphabetical order;
     (b) a copy of the certificate of limited partnership and all certificates of amendment, together with executed copies of any powers of attorney pursuant to which any certificate has been executed;
     (c) copies of the limited partnership's federal, state, and local income tax returns and reports, if any, for the 3 most recent years;
     (d) copies of any then-effective written partnership agreements and of any financial statements of the limited partnership for the 3 most recent years; and
     (e) unless contained in a written partnership agreement, a writing setting out:
     (i) the amount of cash and a description and statement of the agreed value of the other property or services contributed by each partner and that each partner has agreed to contribute;
     (ii) the times at which or the events on the happening of which any additional contributions agreed to be made by each partner are to be made;
     (iii) any right of a partner to receive or of a general partner to make distributions to a partner that include a return of all or any part of the partner's contribution; and
     (iv) any events, upon the happening of which, the limited partnership is to be dissolved and its affairs wound up.
     (2) Records kept under this section must be available for inspection and copying at the reasonable request and at the expense of any partner during ordinary business hours.

     History: En. Sec. 8, Ch. 522, L. 1981; amd. Sec. 6, Ch. 268, L. 1997; amd. Sec. 66, Ch. 240, L. 2007.