2006 Utah Code - 48-2a-101 — Definitions.

     48-2a-101.   Definitions.
     As used in this chapter, unless the context otherwise requires:
     (1) "Certificate of limited partnership" means the certificate referred to in Section 48-2a-201, and the certificate as amended or restated.
     (2) "Contribution" means 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) "Division" means the Division of Corporations and Commercial Code of the Utah Department of Commerce.
     (4) "Event of withdrawal of a general partner" means an event that causes a person to cease to be a general partner as provided in Section 48-2a-402.
     (5) "Foreign limited partnership" means a partnership formed under the laws of any state other than this state and having as partners one or more general partners and one or more limited partners.
     (6) "General partner" means 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.
     (7) "Limited partner" means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement.
     (8) "Limited partnership" and "domestic limited partnership" mean a 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.
     (9) "Partner" means a limited or a general partner.
     (10) "Partnership agreement" means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business.
     (11) "Partnership interest" means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.
     (12) "Person" means an individual, general partnership, limited partnership, limited association, domestic or foreign trust, estate, association, or corporation.
     (13) "State" means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.
     (14) "Subject entity" means a corporation, business trust or association, a real estate investment trust, a common-law trust, or any other unincorporated business, including a limited liability company, a general partnership, a registered limited liability partnership, or a foreign limited partnership.

Amended by Chapter 260, 2001 General Session