67-233. Terms, defined.

424 words·~2 min read·/ne/chapter-67/67-233

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

For purposes of the Nebraska Uniform Limited Partnership Act:

(1)Certificate of limited partnership shall mean the certificate referred to in section 67-240 and the certificate as amended or restated;

(2)Contribution shall mean any cash, property, services rendered, or promissory note or other binding obligation to contribute cash or property or to perform services which a partner contributes to a limited partnership in his or her capacity as a partner;

(3)Event of withdrawal of a general partner shall mean an event that causes a person to cease to be a general partner as provided in section 67-255 ;

(4)Foreign limited partnership shall mean a partnership formed under the laws of any state other than this state or under the laws of any foreign country and having as partners one or more general partners and one or more limited partners;

(5)General partner shall mean a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and, if required, named as such in the certificate of limited partnership or similar instrument under which the limited partnership or foreign limited partnership is organized;

(6)Limited partner shall mean a person who has been admitted to a limited partnership as a limited partner as provided in the Nebraska Uniform Limited Partnership Act or, in the case of a foreign limited partnership, in accordance with the laws under which the limited partnership is formed;

(7)Limited partnership and domestic limited partnership shall mean a partnership formed by two or more persons under the laws of this state and having one or more general partners and one or more limited partners;

(8)Liquidating trustee shall mean a person, other than a general partner, but including a limited partner, carrying out the winding up of a limited partnership;

(9)Partner shall mean a limited or general partner;

(10)Partnership agreement shall mean any valid agreement, written or oral, of the partners as to the affairs of a limited partnership or foreign limited partnership and the conduct of its business;

(11)Partnership interest shall mean a partner's share of the profits and losses of a limited partnership or foreign limited partnership and the right to receive distributions of partnership assets;

(12)Person shall mean a natural person, partnership, whether general or limited and whether domestic or foreign, limited liability company, trust, estate, association, or corporation; and

(13)State shall mean a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.