(a)  A partnership is an association of two (2) or more persons to carry on as co-owners a business for profit, and includes a registered limited-liability partnership.

Terms Used In Rhode Island General Laws 7-12-17

  • 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.
  • Statute: A law passed by a legislature.

(b)  Any association formed under any other statute of this state, or any statute adopted by authority, other than the authority of the state, is not a partnership under § 7-12-12 — § 7-12-59, unless the association would have been a partnership in this state prior to May 6, 1957; but § 7-12-12 — § 7-12-59 apply to limited partnerships except insofar as the statutes relating to partnerships are inconsistent with these provisions.

History of Section.
R.P.L. 1957, ch. 74, § 6; P.L. 1996, ch. 270, § 1; P.L. 1998, ch. 235, § 1.

§ 7-12-17. [Repealed effective January 1, 2023.]

History of Section.
R.P.L. 1957, ch. 74, § 6; P.L. 1996, ch. 270, § 1; P.L. 1998, ch. 235, § 1; repealed by P.L. 2022, ch. 123, § 1, effective January 1, 2023; repealed by P.L. 2022, ch. 124, § 1, effective January 1, 2023.