Uniform Partnership Act


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Uniform Partnership Act

Model legislation proposed by the National Conference of Commissioners on Uniform State Laws governing business partnerships. The Act determines how assets are distributed, governs the fiduciary duties of partners, and so forth. The NCCUSL has promulgated several versions of the Act since 1914. Versions of the Act have been adopted in every state except Louisiana.
References in periodicals archive ?
That said, the Uniform Law Commission has approved a revised version of the Uniform Partnership Act that would apply to partnerships the same rules as LLCs in this regard.
Frates applied Florida law, including caselaw under the Uniform Partnership Act (UPA), (2) to the dissolution of a law firm partnership.
Uniform Limited Liability Company Act ("ULLCA") definitions, like the rest of the Act, are a blend of terms and concepts derived from the Uniform Partnership Act ("UPA"), the Uniform Partnership Act (1994) ("UPA 1994", also previously known as the Revised Uniform Partnership Act or "RUPA"), the Revised Uniform Limited Partnership Act ("RULPA"), the Uniform Commercial Code ("UCC"), and the Model Business Corporation Act ("MBCA"), or their revisions from time to time; some are tailored specially for this Act.
Under the Revised Uniform Partnership Act, Sims's estate might lose.
The RUPA designates the partnership as an entity with a separate existence from the partners (Uniform Partnership Act, 1997, [section]201, a).
Bromberg and Ribstein on limited liability partnerships, the revised Uniform Partnership Act, and the Uniform Limited Partnership Act (2001), 2006 ed.
Content includes text of the state's Business Corporation Act, Revised Uniform Partnership Act, Revised Uniform Limited Partnership Act, Limited Liability Act and the Not For Profit Corporation Act.
Most states have adopted the Uniform Partnership Act, which defines what constitutes partnerships, sets forth a few fundamentals on how they are run, and spells out the ground rules for divorce.
Since its creation in 1892, the NCCUSL has written more than 200 uniform laws, including the Uniform Partnership Act, Uniform Trade Secrets Act, Uniform Probate Code and Uniform Limited Partnerships Act.
This view was reinforced by the Uniform Partnership Act, which still requires two or more partners for the existence of a partnership.
Similar to the Uniform Partnership Act, silence in the articles causes default.
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