New Mexico Statutes 54-1A-901. Definitions
Current as of: 2023 | Check for updates
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As used in this article:
Terms Used In New Mexico Statutes 54-1A-901
- general partner: means a partner in a partnership and a general partner in a limited partnership. See New Mexico Statutes 54-1A-901
- 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.
- limited partner: means a limited partner in a limited partnership. See New Mexico Statutes 54-1A-901
- limited partnership: means a limited partnership created under the Uniform Limited Partnership Act [repealed], predecessor law or comparable law of another jurisdiction. See New Mexico Statutes 54-1A-901
- partner: includes both a general partner and a limited partner. See New Mexico Statutes 54-1A-901
- 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.
(1) “general partner” means a partner in a partnership and a general partner in a limited partnership;
(2) “limited partner” means a limited partner in a limited partnership;
(3) “limited partnership” means a limited partnership created under the Uniform Limited Partnership Act [repealed], predecessor law or comparable law of another jurisdiction; and
(4) “partner” includes both a general partner and a limited partner.