67-402 Terms, defined. - Nebraska Statutes

67-402. Terms, defined.For purposes of the Uniform Partnership Act of 1998:(1) Business includes every trade, occupation, and profession;(2) Debtor in bankruptcy means a person who is the subject of:(a) An order for relief under Title 11 of the United States Code or a comparable order under a successor statute of general application; or(b) A comparable order under federal, state, or foreign law governing insolvency;(3) Distribution means a transfer of money or other property from a partnership to a partner in the partner's capacity as a partner or to the partner's transferee;(4) Foreign limited liability partnership means a partnership that:(a) Is formed under laws other than the laws of this state; and(b) Has the status of a limited liability partnership under those laws;(5) Limited liability partnership means a partnership that has filed a statement of qualification under section 67-454 and does not have a similar statement in effect in any other jurisdiction;(6) Partnership means an association of two or more persons to carry on as co-owners a business for profit formed under section 67-410, predecessor law, or comparable law of another jurisdiction;(7) Partnership agreement means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement;(8) Partnership at will means a partnership in which the partners have not agreed to remain partners until the expiration of a definite term or the completion of a particular undertaking;(9) Partnership interest or partner's interest in the partnership means all of a partner's interests in the partnership, including the partner's transferable interest and all management and other rights;(10) Person means an individual, corporation, limited liability company, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity;(11) Property means all property, real, personal, or mixed, tangible or intangible, or any interest therein;(12) State means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States;(13) Statement means a statement of partnership authority under section 67-415, a statement of denial under section 67-416, a statement of dissociation under section 67-437, a statement of dissolution under section 67-443, a statement of merger under section 67-452, a statement of qualification under section 67-454, a statement of foreign qualification under section 67-458, or an amendment or cancellation of any of the foregoing; and(14) Transfer includes an assignment, conveyance, lease, mortgage, deed, and encumbrance. SourceLaws 1997, LB 523, § 2.