Terms Used In Utah Code > Title 48 > Chapter 2e > Part 6 - Dissociation

• 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.
• 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.
• Certificate of limited partnership: means the certificate required by Section 48-2e-201. See Utah Code 48-2e-102
• 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.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Division: means the Division of Corporations and Commercial Code. See Utah Code 48-2e-102
• General partner: means a person that:

  (a)	has become a general partner under Section 48-2e-401 or was a general partner in a limited partnership when the limited partnership became subject to this chapter under Section 48-2e-1205; and

  (b)

  has not dissociated as a general partner under Section 48-2e-603. See Utah Code 48-2e-102 Inter vivos: Transfer of property from one living person to another living person. 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 person that: (a)  has become a limited partner under Section 48-2e-301 or was a limited partner in a limited partnership when the limited partnership became subject to this chapter under Section 48-2e-1205; and (b)  has not dissociated under Section 48-2e-601. See Utah Code 48-2e-102 Limited partnership: means an entity formed under this chapter or which becomes subject to this chapter under 11, or Section 48-2e-1205. See Utah Code 48-2e-102 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Partner: means a limited partner or general partner. See Utah Code 48-2e-102 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. Partnership agreement: means the agreement, whether or not referred to as a partnership agreement, and whether oral, implied, in a record, or in any combination thereof, of all the partners of a limited partnership concerning the matters described in Subsection 48-2e-112(1). See Utah Code 48-2e-102 Person: means an individual, business corporation, nonprofit corporation, partnership, limited partnership, limited liability company, limited cooperative association, unincorporated nonprofit association, statutory trust, business trust, common-law business trust, estate, trust, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Utah Code 48-2e-102 Property: means all property, whether real, personal, or mixed or tangible or intangible, or any right or interest therein. See Utah Code 48-2e-102 Sign: means , with present intent to authenticate or adopt a record: (a)  to execute or adopt a tangible symbol; or (b)  to attach to or logically associate with the record an electronic symbol, sound, or process. See Utah Code 48-2e-102 Transfer: includes : (a)  an assignment; (b)  a conveyance; (c)  a sale; (d)  a lease; (e)  an encumbrance, including a mortgage or security interest; (f)  a gift; and (g)  a transfer by operation of law. See Utah Code 48-2e-102 Transferable interest: means the right, as initially owned by a person in the person's capacity as a partner, to receive distributions from a limited partnership in accordance with the partnership agreement, whether or not the person remains a partner or continues to own any part of the right. See Utah Code 48-2e-102 Transferee: means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner. See Utah Code 48-2e-102 Trustee: A person or institution holding and administering property in trust.