A limited liability partner is a partner who only contributes money to a limited liability partnership
and does not have any control of the day-to-day operation of the partnership. His or her liability is
limited to the amount of capital he or she contributed to the partnership. Limited partners that
participate in management of the partnership are exposed to the same liability as general partners.
Limited partners have the right to participate in any decisions that affect their partnership interests,
such as amending the partnership agreement or admitting a new partner, unless these rights are
restricted by the partnership agreement. Their liability is limited to the amount of capital they
contributed to the partnership. A general partnership will not have any limited liability partners.
