(a)In this chapter:
(1)"Certificate of limited partnership" means the certificate required by section 30-24-201, Idaho Code. The term includes the certificate as amended or restated.
(2)"Contribution," except in the phrase "right of contribution," means property or a benefit described in section 30-24-501, Idaho Code, which is provided by a person to a limited partnership to become a partner or in the person’s capacity as a partner.
(3)"Distribution" means a transfer of money or other property from a limited partnership to a person on account of a transferable interest or in the person’s capacity as a partner. The term:
(A)Includes:
(i)A redemption or other purchase by a limited partnership of a transferable interest; and
(ii)A transfer to a partner in return for the partner’s relin
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(a) In this chapter:
(1) "Certificate of limited partnership" means the certificate required by section 30-24-201, Idaho Code. The term includes the certificate as amended or restated.
(2) "Contribution," except in the phrase "right of contribution," means property or a benefit described in section 30-24-501, Idaho Code, which is provided by a person to a limited partnership to become a partner or in the person’s capacity as a partner.
(3) "Distribution" means a transfer of money or other property from a limited partnership to a person on account of a transferable interest or in the person’s capacity as a partner. The term:
(A) Includes:
(i) A redemption or other purchase by a limited partnership of a transferable interest; and
(ii) A transfer to a partner in return for the partner’s relinquishment of any right to participate as a partner in the management or conduct of the partnership’s activities and affairs or to have access to records or other information concerning the partnership’s activities and affairs; and
(B) Does not include amounts constituting reasonable compensation for present or past service or payments made in the ordinary course of business under a bona fide retirement plan or other bona fide benefits program.
(4) "General partner" means a person that:
(A) Has become a general partner under section 30-24-401, Idaho Code, or was a general partner in a partnership when the partnership became subject to this chapter under section 30-24-112, Idaho Code; and
(B) Has not dissociated as a general partner under section 30-24-603, Idaho Code.
(5) "Limited liability limited partnership" means a limited partnership whose certificate of limited partnership states that the partnership is a limited liability limited partnership.
(6) "Limited partner" means a person that:
(A) Has become a limited partner under section 30-24-301, Idaho Code, or was a limited partner in a limited partnership when the partnership became subject to this chapter under section 30-24-112, Idaho Code; and
(B) Has not dissociated under section 30-24-601, Idaho Code.
(7) "Limited partnership" means an entity formed under this chapter or that becomes subject to this chapter under chapter 22, title 30, Idaho Code, or section 30-24-112, Idaho Code. The term includes a limited liability limited partnership.
(8) "Partner" means a limited partner or general partner.
(9) "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 section 30-24-105 (a), Idaho Code. The term includes the agreement as amended or restated.
(10) "Required information" means the information that a limited partnership is required to maintain under section 30-24-108, Idaho Code.
(11) "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, whether or not the person remains a partner or continues to own any part of the right. The term applies to any fraction of the interest, by whomever owned.
(12) "Transferee" means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner. The term includes a person that owns a transferable interest under section 30-24-602 (a)(3) or 30-24-605 (a)(4), Idaho Code.
(b) The following definitions outside this chapter apply to this chapter:
(1) "Debtor in bankruptcy" – section 30-21-102 (7), Idaho Code.
(2) "Foreign" – section 30-21-102 (15), Idaho Code.
(3) "Jurisdiction" – section 30-21-102 (22), Idaho Code.
(4) "Jurisdiction of formation" – section 30-21-102 (23), Idaho Code.
(5) "Person" – section 30-21-102 (35), Idaho Code.
(6) "Principal office" – section 30-21-102 (36), Idaho Code.
(7) "Property" – section 30-21-102 (41), Idaho Code.
(8) "Record" – section 30-21-102 (44), Idaho Code.
(9) "Registered agent" – section 30-21-102 (45), Idaho Code.
(10) "Sign" – section 30-21-102 (47), Idaho Code.
(11) "State" – section 30-21-102 (48), Idaho Code.
(12) "Transfer" – section 30-21-102 (50), Idaho Code.