RSA 304-B:1 · Definitions

304-B:1 Definitions. – As used in this chapter, unless the context otherwise requires:

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I.

"Certificate of limited partnership" means the certificate referred to in RSA 304-B:8, and the certificate as amended or restated.

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II.

"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.

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III.

"Event of withdrawal of a general partner" means an event that causes a person to cease to be a general partner as provided in RSA 304-B:23.

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IV.

"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.

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V.

"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.

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VI.

"Limited partner" means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement.

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VII.

"Limited partnership" and "domestic limited partnership" mean a partnership formed by 2 or more persons under the laws of this state and having one or more general partners and one or more limited partners.

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VIII.

"Partner" means a limited or general partner.

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IX.

"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.

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X.

"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.

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XI.

"Person" means a natural person, partnership, limited partnership (domestic or foreign), trust, estate, association, or corporation.

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XII.

"State" means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. Source. 1987, 349:1, eff. Jan. 1, 1988.

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