PART IV. 
UNIFORM PARTNERSHIP ACT [OLD]--REPEALED



 



§§425-101 to 143  REPEALED.  L 1999, c
284, §5.



 



PART IV. 
UNIFORM PARTNERSHIP ACT



 



General
Provisions



 



§425-101  [Definitions.]  As used in
this part, unless the context otherwise requires:



"Business" includes every trade,
occupation, and profession.



"Debtor in bankruptcy" means a person
who is the subject of:



(1)  An order for relief under Title 11 of the United
States Code or a comparable order under a successor statute of general
application; or



(2)  A comparable order under federal, state, or
foreign law governing insolvency.



"Director" means the director of
commerce and consumer affairs.



"Distribution" means a transfer of
money or other property from a partnership to a partner in the partner's capacity
as a partner or to the partner's transferee.



"Entity" includes domestic and
foreign corporations, domestic professional corporations, domestic and foreign
limited liability companies, domestic and foreign nonprofit corporations,
domestic and foreign business trusts, estates, domestic and foreign
partnerships, domestic and foreign limited partnerships, domestic and foreign
limited liability partnerships, trusts, two or more persons having joint or
common economic interest, associations and cooperative associations, and state,
federal, and foreign governments.



"Foreign limited liability
partnership" means a partnership that:



(1)  Is formed under laws other than the laws of this
State; and



(2)  Has the status of a limited liability partnership
under those laws.



"Individual" means a natural person.



"Limited liability partnership" means
a partnership that has filed a statement of qualification under section 425-152
and does not have a similar statement in effect in any other jurisdiction.



"Partnership" means an association of
two or more persons to carry on as co-owners a business for profit formed under
section 425-109, a predecessor law, or comparable law of another jurisdiction.



"Partnership agreement" means the
agreement, whether written, oral, or implied, among the partners concerning the
partnership, including amendments to the partnership agreement.



"Partnership at will" means a
partnership in which the partners have not agreed to remain partners until the
expiration of a definite term or the completion of a particular undertaking.



"Partnership interest" or
"partner's interest in the partnership" means all of a partner's
interests in the partnership, including the partner's transferable interest and
all management and other rights.



"Person" includes any individual or
entity.



"Property" means all property, real,
personal, or mixed, tangible or intangible, or any interest therein.



"State" means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or
insular possession subject to the jurisdiction of the United States.



"Statement" means a registration or
annual statement filed under section 425-1, a statement of correction filed
under section 425-1.7, a statement of change filed under section 425-7, a
statement of dissolution filed under section 425-9, a statement of denial filed
under section 425-115, a statement of dissociation filed under section 425-136,
a statement of qualification under section 425-153, a statement of foreign
qualification under section 425-158, an amendment, or any other document filed
under this chapter.



"Transfer" includes an assignment,
conveyance, lease, mortgage, deed, and encumbrance. [L 1999, c 284, pt of §1;
am L 2000, c 218, §3; am L 2004, c 121, §28; am L 2006, c 184, §18]