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 UNIFORM PARTNERSHIP ACT [OLD]--REPEALED

 

§§425-101 to 143  REPEALED.  L 1999, c284, §5.

 

PART IV. UNIFORM PARTNERSHIP ACT

 

GeneralProvisions

 

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

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

"Debtor in bankruptcy" means a personwho is the subject of:

(1)  An order for relief under Title 11 of the UnitedStates Code or a comparable order under a successor statute of generalapplication; or

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

"Director" means the director ofcommerce and consumer affairs.

"Distribution" means a transfer ofmoney or other property from a partnership to a partner in the partner's capacityas a partner or to the partner's transferee.

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

"Foreign limited liabilitypartnership" means a partnership that:

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

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

"Individual" means a natural person.

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

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

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

"Partnership at will" means apartnership in which the partners have not agreed to remain partners until theexpiration 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'sinterests in the partnership, including the partner's transferable interest andall management and other rights.

"Person" includes any individual orentity.

"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 orinsular possession subject to the jurisdiction of the United States.

"Statement" means a registration orannual statement filed under section 425-1, a statement of correction filedunder section 425-1.7, a statement of change filed under section 425-7, astatement of dissolution filed under section 425-9, a statement of denial filedunder section 425-115, a statement of dissociation filed under section 425-136,a statement of qualification under section 425-153, a statement of foreignqualification under section 425-158, an amendment, or any other document filedunder 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]