§ 48-1-3. "Partnership" defined.

Latest version.

(1)

(a)	Except as provided in Subsection (2), a "partnership" is an association of two or more persons to carry on as coowners a business for profit.

(b)	"Partnership," when used in a statute of the state, includes a limited liability partnership registered under Section 48-1-42, unless the context requires otherwise.

(2)	An association formed under any other statute of this state, or any statute adopted by authority other than the authority of this state, is not a partnership under this chapter, unless such association would have been a partnership in this state prior to the adoption of this chapter.

(3)	This chapter shall apply to limited partnerships except in so far as the statutes relating to such partnerships are inconsistent herewith.

Amended by Chapter 340, 2011 General Session

                    
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