As used in this act:
(1) “Act” means the Florida Revised Uniform Limited Partnership Act of 2005, as amended.
(2) “Certificate of limited partnership” means the certificate required by s. 620.1201. The term includes the certificate as amended or restated.
(3) “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.
(4) “Debtor in bankruptcy” means a person that is the subject of:
(a) An order for relief under Title 11 U.S.C. or a comparable order under a successor statute of general application; or
Terms Used In Florida Statutes 620.1102
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 88.6011
- Service of process: The service of writs or summonses to the appropriate party.
- Statute: A law passed by a legislature.
(b) A comparable order under federal, state, or foreign law governing insolvency.
(5) “Designated office” means:
(a) With respect to a limited partnership, the office that the limited partnership is required to designate and maintain under s. 620.1114.
(b) With respect to a foreign limited partnership, its principal office.
(6) “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.
(7) “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 s. 620.1404(3).
(8) “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. The term includes a foreign limited liability limited partnership.
(9) “General partner” means:
(a) With respect to a limited partnership, a person that:
1. Becomes a general partner under s. 620.1401; or
2. Was a general partner in a limited partnership when the limited partnership became subject to this act under s. 620.2204(1) or (2).
(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.
(10) “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, or which was a limited liability limited partnership when the limited partnership became subject to this act under s. 620.2204(1) or (2).
(11) “Limited partner” means:
(a) With respect to a limited partnership, a person that:
1. Becomes a limited partner under s. 620.1301; or
2. Was a limited partner in a limited partnership when the limited partnership became subject to this act under s. 620.2204(1) or (2).
(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.
(12) “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 act by two or more persons or becomes subject to this act as the result of a conversion or merger under this act, or which was a limited partnership governed by the laws of this state when this act became a law and became subject to this act under s. 620.2204(1) or (2). The term includes a limited liability limited partnership.
(13) “Partner” means a limited partner or general partner.
(14) “Partnership agreement” means the partners’ agreement, whether oral, implied, in a record, or in any combination thereof, concerning the limited partnership. The term includes the agreement as amended or restated.
(15) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, or government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity.
(16) “Person dissociated as a general partner” means a person dissociated as a general partner of a limited partnership.
(17) “Principal office” means the office at which the principal executive office of a limited partnership or foreign limited partnership is located, whether or not the office is located in this state.
(18) “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.
(19) “Registered agent” means the person acting as the registered agent of the limited partnership for service of process and meeting the requirements in s. 620.1114.
(20) “Registered office” means the address of the registered agent meeting the requirements of s. 620.1114.
(21) “Required information” means the information that a limited partnership is required to maintain under s. 620.1111.
(22) “Sign” means to:
(a) Execute or adopt a tangible symbol with the present intent to authenticate a record; or
(b) Attach or logically associate an electronic symbol, sound, or process to or with a record with the present intent to authenticate the record.
(23) “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.
(24) “Transfer” includes an assignment, conveyance, deed, bill of sale, lease, mortgage, security interest, encumbrance, gift, or transfer by operation of law.
(25) “Transferable interest” means a partner’s right to receive distributions.
(26) “Transferee” means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner.