Nevada Revised Statutes 88.570 – Law governing organization, internal affairs and liability of limited partners
Current as of: 2022 | Check for updates
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Subject to the constitution of this State:
Terms Used In Nevada Revised Statutes 88.570
- Foreign limited partnership: means a partnership formed under the laws of a jurisdiction other than this State and having as partners one or more general partners and one or more limited partners. See Nevada Revised Statutes 88.315
- 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.
- 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.
- State: means a state, territory or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico. See Nevada Revised Statutes 88.315
1. The laws of the state or jurisdiction under which a foreign limited partnership is organized govern its organization and internal affairs and the liability of its limited partners; and
2. A foreign limited partnership may not be denied registration by reason of any difference between those laws and the laws of this State.