LD 1609
pg. 49
Page 48 of 146 PUBLIC Law Chapter 543 Page 50 of 146
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LR 1469
Item 1

 
B.__With respect to a foreign limited partnership, its
principal office.

 
5.__Distribution.__"Distribution" means a transfer of money or
other property from a limited partnership to a partner in the
partner's capacity as a partner or to a transferee on account of
a transferable interest owned by the transferee.

 
6.__Foreign limited liability limited partnership.__"Foreign
limited liability limited partnership" means a foreign limited
partnership whose general partners have limited liability for the
obligations of the foreign limited partnership under a provision
similar to section 1354, subsection 3.

 
7.__Foreign limited partnership.__"Foreign limited
partnership" means a partnership formed under the laws of a
jurisdiction other than this State and required by those laws to
have one or more general partners and one or more limited
partners. The term includes a foreign limited liability limited
partnership.

 
8.__General partner.__"General partner" means:

 
A.__With respect to a limited partnership, a person that:

 
(1)__Becomes a general partner under section 1351; or

 
(2)__Was a general partner in a limited partnership
when the limited partnership became subject to this
chapter under section 1453, subsection 1 or 2; and

 
B.__With respect to a foreign limited partnership, a person
that has rights, powers and obligations similar to those of
a general partner in a limited partnership.

 
9.__Limited liability limited partnership.__"Limited liability
limited partnership," except in the phrase "foreign limited
liability limited partnership," means a limited partnership whose
certificate of limited partnership states that the limited
partnership is a limited liability limited partnership.

 
10.__Limited partner.__"Limited partner" means:

 
A.__With respect to a limited partnership, a person that:

 
(1)__Becomes a limited partner under section 1341; or


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