2006 Nebraska Revised Statutes - § 67-306 — Partnership, defined.

Section 67-306
Partnership, defined.

(1) A partnership is an association of persons organized as a separate entity to carry on a business for profit and includes, for all purposes of the laws of this state, a registered limited liability partnership. Nothing in the Uniform Partnership Act is intended to restrict or limit in any manner the authority and duty of any regulatory body licensing professionals within the state to license such individuals rendering professional services or to regulate the practice of any profession that is within the jurisdiction of the regulatory body licensing such professionals within the state notwithstanding that the person is a partner of a registered limited liability partnership and rendering professional services or engaging in the practice of the profession through a registered limited liability partnership.

(2) Any association formed under any other statute of this state, or any statute adopted by authority, other than the authority of this state, is not a partnership under the act, unless the association would have been a partnership in this state prior to the adoption of the act; but such other statutes shall apply to limited partnerships except as such other statutes relating to such associations are inconsistent with the act.

(3) A limited liability partnership is a syndicate for purposes of Article XII, section 8, of the Constitution of Nebraska, except that a registered limited liability partnership in which the partners are members of a family, or a trust created for the benefit of a member of that family, related to one another within the fourth degree of kindred according to the rules of civil law, or their spouses, at least one of whom is a person residing on or actively engaged in the day-to-day labor and management of the farm or ranch and none of whom are nonresident aliens, is not a syndicate for purposes of Article XII, section 8, of the Constitution of Nebraska.

Source:

Laws 1943, c. 143, § 6, p. 488

R.S.1943, § 67-306

Laws 1996, LB 681, § 203

Termination date January 1, 2001

Annotations:

A partnership is considered as an entity separate and apart from individual partners. State v. Siers, 197 Neb. 51, 248 N.W.2d 1 (1976).

A partnership is an association of persons organized as a separate entity to carry on a business for profit. Horn's Crane Service v. Prior, 182 Neb. 94, 152 N.W.2d 421 (1967).

A partnership is an entity separate and apart from the individual partners for purpose of taxation. Svoboda & Hannah v. Board of Equalization, 180 Neb. 215, 142 N.W.2d 328 (1966).

Burden of establishing existence of partnership is upon party asserting that relationship exists. Peterson v. Massey, 155 Neb. 829, 53 N.W.2d 912 (1952).

Partner, who is general manager, is not an employee of partnership entity. Rasmussen v. Trico Feed Mills, 148 Neb. 855, 29 N.W.2d 641 (1947).

A meretricious relationship between former spouses in which they remained living together with each paying certain expenses was not a partnership under this section. Anania v. Anania, 6 Neb. App. 572, 576 N.W.2d 830 (1998).

~Reissue Revised Statutes of Nebraska