LD 1609
pg. 8
Page 7 of 148 An Act To Establish the Uniform Partnership Act Page 9 of 148
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LR 1469
Item 1

 
B.__Has the status of a limited liability partnership under
those laws.

 
5.__Limited liability partnership.__"Limited liability
partnership" means a partnership that has registered as a limited
liability partnership pursuant to section 821 and does not have a
similar statement in effect in any other jurisdiction.

 
6.__Partnership.__"Partnership" means an association of 2 or
more persons to carry on as co-owners a business for profit
formed under section 1022, predecessor law or comparable law of
another jurisdiction.

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

 
8.__Partnership at will.__"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.

 
9.__Partnership interest; partner's interest in partnership.__
"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.

 
10.__Person.__"Person" means an individual, corporation,
limited liability company, business trust, estate, trust,
partnership, association, joint venture, government, governmental
subdivision, agency or instrumentality or any other legal or
commercial entity.

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

 
12.__State.__"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.

 
13.__Statement.__"Statement" means a statement of dissociation
under section 1074, a statement of dissolution under section
1085, a statement of merger under section 1097, a statement
electing to be governed by this chapter prior to July 1, 2006 or
an amendment or cancellation of any of the foregoing.


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