limited partner

A partner who receives profits from the business but does not take part in managing the business and is not liable for any amount greater than his or her original investment.

— Also termed special partner; (in civil law) partner in commendam. See limited partnership under PARTNERSHIP. [Cases: Partnership 353, 366, 371. C.J.S. Partnership §§ 405, 407, 422–423, 425, 429–432, 438.]

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