Module 4

Question 1

What act governs partnerships?

Answer 1

Partnership Act (AB)

Question 2

What info is needed to register a General Partnership with the Alberta Corporate Registry?

Answer 2

-names, residential addresses, and occupations of each partner
-partnership name
-date partnership started
-date partnership is to end (if applicable)
-where the partnership will do business and general desc of type of business

Question 3

What form is needed to register a general partnership?

Answer 3

Declaration of a Partnership

Question 4

What info is contained in the Certificate of Limited Partnership?

Answer 4

-name of partnership
-desc of business being conducted
-name and address of each partner
-time period for which it is to exist
-amount of money or value of property each partner contributed
-amount of any additional contributions, if any, to be made by each limited partner & criteria for additional contributions
-the right to change limited partners (if applicable)
-the right to bring in additional limited partners (if applicable)

Question 5

What extra step is needed to register an LLP as opposed to an LP?

Answer 5

a letter from the governing body, approving the partnership.

Question 6

What is a Partnership Agreement?

Answer 6

a formal doc that contains the rights, obligations and contributions of each partner

Question 7

What doc is needed to prove a Declaration of Partnership has been filed with the AB Corp Reg?

Answer 7

Proof of Filing