LIMITED PARTNER Definition

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LIMITED PARTNER is a partner in a venture who has no management authority and whose liability is restricted to the amount of his or her investment.

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MARGIN ACCOUNT (Stocks) is a leverageable account in which stocks can be purchased for a combination of cash and a loan. The loan in the margin account is collateralized by the stock and, if the value of the stock drops sufficiently, the owner will be asked to either put in more cash, or sell a portion of the stock. Margin rules are federally regulated, but margin requirements and interest may vary among broker/dealers.

FIT is Federal Income Tax.

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