2018 Massachusetts General Laws
PART I ADMINISTRATION OF THE GOVERNMENT
TITLE XV REGULATION OF TRADE
Chapter 109 LIMITED PARTNERSHIP
Section 1 Definitions
Section 1. As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings:—
(1) ''Certificate of limited partnership'', the certificate referred to in section eight, and the certificate as amended or restated.
(2) ''Contribution'', any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in his capacity as a partner.
(3) ''Event of withdrawal of a general partner'', an event that causes a person to cease to be a general partner as provided in section twenty-three.
(4) ''Foreign limited partnership'', a partnership formed under the laws of any state other than the commonwealth and having as partners one or more general partners and one or more limited partners.
(5) ''General partner'', a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner.
(6) ''Limited partner'', a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement.
(7) ''Limited partnership'' and ''domestic limited partnership'', a partnership formed by two or more persons under the laws of the commonwealth and having one or more general partners and one or more limited partners.
(8) ''Partner'', a limited or general partner.
(9) ''Partnership agreement'', any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business.
(10) ''Partnership interest'', a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.
(11) ''Person'', a natural person, partnership, limited partnership (domestic or foreign), trust, estate, association, or corporation.
(12) ''State'', a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.
