New Mexico Statutes 54-1A-107. Partnership subject to amendment or repeal of the
Current as of: 2023 | Check for updates
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Uniform Partnership Act (1994).
Terms Used In New Mexico Statutes 54-1A-107
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- 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.
A partnership governed by the Uniform Partnership Act (1994) [54-1A-101 to 54-1A- 1206 NMSA 1978] is subject to any amendment to or repeal of that act.