Massachusetts § 1 Definitions

Massachusetts Statutes

§ 1 — Definitions

Massachusetts § 1

Part IADMINISTRATION OF THE GOVERNMENT

Title XVREGULATION OF TRADE

Ch. 109LIMITED PARTNERSHIP

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Bluebook

Mass. Gen. Laws ch. 109, § 1 (2026).

Text

Section 1. As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings:—

(1)''Certificate of limited partnership'', the certificate referred to in section eight, and the certificate as amended or restated.

(2)''Contribution'', any cash, property, services rendered, or a 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 capacity as a partner.

(3)''Event of withdrawal of a general partner'', an event that causes a person to cease to be a general partner as provided in section twenty-three.

(4)''Foreign limited partnership'', a partnership formed under the laws of any state other than the commonwealth and having as part

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Section 1. As used in this chapter, the following words shall, unless the context clearly requires otherwise, have the following meanings:—(1) ''Certificate of limited partnership'', the certificate referred to in section eight, and the certificate as amended or restated.(2) ''Contribution'', any cash, property, services rendered, or a 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 capacity as a partner.(3) ''Event of withdrawal of a general partner'', an event that causes a person to cease to be a general partner as provided in section twenty-three.(4) ''Foreign limited partnership'', a partnership formed under the laws of any state other than the commonwealth and having as partners one or more general partners and one or more limited partners.(5) ''General partner'', a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner.(6) ''Limited partner'', a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement.(7) ''Limited partnership'' and ''domestic limited partnership'', a partnership formed by two or more persons under the laws of the commonwealth and having one or more general partners and one or more limited partners.(8) ''Partner'', a limited or general partner.(9) ''Partnership agreement'', any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business.(10) ''Partnership interest'', a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.(11) ''Person'', a natural person, partnership, limited partnership (domestic or foreign), trust, estate, association, or corporation.(12) ''State'', a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.