2013 Maryland Code
CORPORATIONS AND ASSOCIATIONS
§ 9A-101 - Definitions


MD Corp & Assn Code § 9A-101 (2013) What's This?

(a) In general. -- In this title the following words have the meanings indicated.

(b) Business. -- "Business" includes every trade, occupation, and profession.

(c) Debtor in bankruptcy. -- "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.

(d) Distribution. -- "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.

(e) Foreign limited liability partnership. -- "Foreign limited liability partnership" means a partnership that is formed in accordance with an agreement governed by the laws of a state other than this State and registered or denominated as a limited liability partnership or registered limited liability partnership under the laws of such other state, but does not include a foreign limited partnership registered or denominated as a limited liability limited partnership under the laws of a state other than this State.

(f) Foreign limited partnership. -- "Foreign limited partnership" means a partnership, including a foreign limited partnership registered or denominated as a limited liability partnership under the laws of a state other than this State, formed under the laws of any state other than this State or under the laws of a foreign country and having as partners one or more general partners and one or more limited partners.

(g) Limited liability partnership. -- "Limited liability partnership" means a partnership that:

(1) Is formed in accordance with the laws of this State; and

(2) Is registered under § 9A-1001 of this title.

(h) Limited partnership. -- "Limited partnership" and "domestic limited partnership" means a limited partnership formed by two or more persons under the laws of this State and having one or more general partners and one or more limited partners.

(i) Partnership. -- "Partnership" means an association of two or more persons to carry on as co-owners a business for profit formed under § 9A-202 of this title, predecessor law, or comparable law of another jurisdiction and includes, for all purposes of the laws of this State, a limited liability partnership and a foreign limited liability partnership.

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

(k) 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.

(l) Partnership interest. -- "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.

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

(n) Real estate investment trust. -- "Real estate investment trust" means a Maryland real estate investment trust as defined in § 8-101 of this article.

(o) 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.

(p) Statement. -- "Statement" means a statement of partnership authority under § 9A-303 of this title, a statement of denial under § 9A-304 of this title, a statement of dissociation under § 9A-704 of this title, a statement of dissolution under § 9A-805 of this title, or an amendment or cancellation of any of the foregoing.

(q) Statutory trust. -- "Statutory trust" means a Maryland statutory trust as defined in § 12-101 of this article.

(r) Transfer. -- "Transfer" includes an assignment, conveyance, lease, mortgage, deed, and encumbrance.

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