(1) Limited partnerships may be formed in the manner and subject to the conditions hereinafter provided.
(2) A limited partnership must contain one or more persons called general partners, who shall be liable for all debts and obligations of the firm, and one or more persons to be called limited partners, who shall at the time of entering into such partnership contribute thereto a sum or sums as capital or property valued at a stated amount, and shall not be liable for the debts or obligations of the firm beyond the amount so contributed.
(3) A limited partner shall not during the continuance of the partnership, either directly or indirectly, out or receive back any part of his or her contribution, and does so draw out or receive back any such part shall be liable for the debts and obligations of the firm up to the amount so drawn out or received back.
(4) A body corporate may a limited partnership.