Article 37 - Limited and General Partners

(1) A Limited Partnership must have:
(A) one or more General Partners each of whom has unlimited liability, and
(B) one or more Limited Partners each of whom has limited liability so long as he complies with Article 38.
(2) A person does not become a Limited Partner in a Limited Partnership until registered as such.
(3) A person does not cease to be a Limited Partner in a Limited Partnership until he is registered as no longer being a Limited Partner in the Partnership.
(4) But subsection (2) does not apply if the person ceases to be a Partner on his death or (if not an individual) dissolution.
(5) A "General Partner" is a person who:
(A) is a Partner in a Limited Partnership, but
(B) is not a Limited Partner.
(6) A Partnership is not a Limited Partnership until registered as such in accordance with the provisions in Part 5 of these Regulations.
(7) Article 37 (2) and (3) do not apply to a Limited Partner in a Limited Partnership that is a Collective Investment Fund.