2011 Utah Code
Title 48 Partnership
Chapter 2d Utah Uniform Limited Partnership Act
Section 102 (Effective 07/01/12) Definitions.
As used in this chapter:
(1) (a) "Certificate of limited partnership" means the certificate required by Section 48-2d-201.
(b) "Certificate of limited partnership" includes the certificate as amended or restated.
(2) "Contribution," except in the phrase "right of contribution," means any benefit provided by a person to a limited partnership in order to become a partner or in the person's capacity as a partner.
(3) "Debtor in bankruptcy" means a person that is the subject of:
(a) an order for relief under United States Code, Title 11, or a comparable order under a successor statute of general application; or
(b) a comparable order under federal, state, or foreign law governing insolvency.
(4) "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.
(5) "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 Subsection 48-2d-404(3).
(6) (a) "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.
(b) "Foreign limited partnership" includes a foreign limited liability limited partnership.
(7) "General partner" means:
(a) with respect to a limited partnership, a person that:
(i) becomes a general partner under Section 48-2d-401; or
(ii) was a general partner in a limited partnership when the limited partnership became subject to this chapter under Subsection 48-2d-1205(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.
(8) "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.
(9) "Limited partner" means:
(a) with respect to a limited partnership, a person that:
(i) becomes a limited partner under Section 48-2d-301; or
(ii) was a limited partner in a limited partnership when the limited partnership became subject to this chapter under Subsection 48-2d-1205(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 limited partner in a limited partnership.
(10) (a) "Limited partnership," except in the phrases "foreign limited partnership" and "foreign limited liability limited partnership," means an entity, having one or more general partners and one or more limited partners, which is formed under this chapter by two or more persons or becomes subject to this chapter under Part 11, Merger, Conversion, and Domestication, or Subsection 48-2d-1205(1) or (2).
(b) "Limited partnership" includes a limited liability limited partnership.
(11) "Partner" means a limited partner or general partner.
(12) (a) "Partnership agreement" means the partners' agreement, whether oral, implied, in a record, or in any combination, concerning the limited partnership.
(b) "Partnership agreement" includes the agreement as amended.
(13) "Person" means:
(a) an individual;
(b) a corporation;
(c) a business trust;
(d) an estate;
(e) a trust;
(f) a partnership;
(g) a limited liability company;
(h) an association;
(i) a joint venture;
(j) government;
(k) a governmental subdivision, agency, or instrumentality;
(l) a public corporation; or
(m) any other legal or commercial entity.
(14) "Person dissociated as a general partner" means a person dissociated as a general partner of a limited partnership.
(15) "Principal office" means the office where the principal executive office of a limited partnership or foreign limited partnership is located, whether or not the office is located in this state.
(16) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
(17) "Required information" means the information that a limited partnership is required to maintain under Section 48-2d-111.
(18) "Sign" means:
(a) to execute or adopt a tangible symbol with the present intent to authenticate a record; or
(b) to attach or logically associate an electronic symbol, sound, or process to or with a record with the present intent to authenticate the record.
(19) "State" means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.
(20) "Transfer" includes an assignment, conveyance, deed, bill of sale, lease, mortgage, security interest, encumbrance, gift, and transfer by operation of law.
(21) "Transferable interest" means a partner's right to receive distributions.
(22) "Transferee" means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner.
(23) "Tribal limited partnership" means a limited partnership:
(a) formed under the law of a tribe; and
(b) that is at least 51% owned or controlled by the tribe.
(24) "Tribe" means a tribe, band, nation, pueblo, or other organized group or community of Indians, including an Alaska Native village, that is legally recognized as eligible for and is
consistent with a special program, service, or entitlement provided by the United States to Indians because of their status as Indians.
