50-73.8 - Records to be kept. - Virginia Statutes

§ 50-73.8. Records to be kept.

A. Each limited partnership shall keep at its principal office the following:

1. A current list of the full name and last known business address of eachpartner, separately identifying the general partners in alphabetical orderand the limited partners in alphabetical order;

2. A copy of the certificate of limited partnership and all certificates ofamendment thereto, together with executed copies of any powers of attorneypursuant to which any certificate has been executed;

3. Copies of the limited partnership's federal, state and local income taxreturns and reports, if any, for the three most recent years;

4. Copies of any then-effective written partnership agreements and of anyfinancial statements of the limited partnership for the three most recentyears; and

5. Unless contained in a written partnership agreement, a writing setting out:

a. The amount of cash and a description and statement of the agreed value ofthe other property or services contributed by each partner and which eachpartner has agreed to contribute;

b. The times at which or events on the happening of which any additionalcontributions agreed to be made by each partner are to be made;

c. Any right of a partner to receive, or of a general partner to make,distributions to a partner which include a return of all or any part of thepartner's contribution; and

d. Any events upon the happening of which the limited partnership is to bedissolved and its affairs wound up.

B. Records kept under this section are subject to inspection and copying atthe reasonable request, and at the expense, of any partner during ordinarybusiness hours.

(1985, c. 607; 1987, c. 702; 2010, c. 675.)