New Mexico Statutes

§ 54-1A-101 — Definitions

New Mexico·Ch. 54 Partnerships·Art. 1 General Provisions.

As used in the Uniform Partnership Act (1994) [54-1A-101 to 54-1A-1206 NMSA 1978]:

(1)"business" includes every trade, occupation and profession;
(2)"debtor in bankruptcy" means a person who is the subject of:
(i)an order for relief under Title 11 of the United States Code or a comparable order under a successor statute of general application; or (ii) 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 is formed under laws other than the laws of this state and has the status of a limited liability partnership under those laws;
(5)

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Legislative History

Laws 1996, ch. 53, § 101; 1997, ch. 76, § 1.

Nearby Sections

15
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