Section 314-12-033. Limited partnerships.

In the licensing of limited partnerships, the following will apply:

(1) The limited partnership business to be licensed shall be controlled by a general partner or partners who shall qualify as "copartners" under RCW 66.24.010.

(2) A limited partner shall be considered within the meaning of the term "copartner" as used in RCW 66.24.010(2) when the limited partner has more than [a] ten percent [ownership] interest in the business to be licensed or may exert control over the operation of the business either individually or collectively with other limited partners.

(3) As a required part of an application for the licensing of a limited partnership, all general partners shall submit affidavits specifying the nature of the interests of any and all limited partners in the business and certifying that no limited partner has any control, either individually or collectively with other limited partners, over the operation of the business to be licensed and further certifying that [no] limited partner has any financial interest which would be disqualifying under RCW 66.28.010. Similar affidavits may be required, in the discretion of the board, from any limited partner about whom there exists any question concerning ownership interest in, or control of, the business to be licensed or about whom there exists any question concerning possibly disqualifying financial interests under RCW 66.28.010.

[Statutory Authority: RCW 66.08.030 and 66.24.010 (2)(b). WSR 90-24-009, § 314-12-033, filed 11/27/90, effective 12/28/90. Statutory Authority: RCW 66.08.030 and 66.98.070. WSR 82-13-105 (Order 105, Resolution No. 114), § 314-12-033, filed 6/23/82.]

Reviser's note: RCW 34.05.395 requires the use of underlining and deletion marks to indicate amendments to existing rules, and deems ineffectual changes not filed by the agency in this manner. The bracketed material in the above section does not appear to conform to the statutory requirement.

RCW 66.08.030 and 66.24.010 (2)(b). WSR 90-24-009, § 314-12-033, filed 11/27/90, effective 12/28/90. Statutory Authority: RCW 66.08.030 and 66.98.070. WSR 82-13-105 (Order 105, Resolution No. 114), § 314-12-033, filed 6/23/82.