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Current through October 23, 2012
For the purposes of this chapter, the term:
(1) "Certificate of limited partnership" means the certificate required by § 29-702.01. The term includes the certificate as amended or restated.
(2) "Contribution", except in the phrase "right of contribution", means any benefit 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 partner in the partner's capacity as a partner or to a transferee on account of a transferable interest owned by the transferee.
(4) "Foreign limited liability limited partnership" means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to § 29- 704.04(c).
(5) "Foreign limited partnership" means a partnership formed under the laws of a jurisdiction other than the District and required by those laws to have one or more general partners and one or more limited partners. The term includes a foreign limited liability limited partnership.
(6) "General partner" means:
(A) With respect to a limited partnership, a person that:
(i) Becomes a general partner under § 29-704.01; or
(ii) Was a general partner in a limited partnership when the limited partnership became subject to this chapter under § 29-711.01(a) or (b); and
(B) With respect to a foreign limited partnership, a person that has rights, powers, and obligations similar to those of a general partner in a limited partnership.
(7) "Limited liability limited partnership", except in the phrase "foreign limited liability limited partnership", means a limited partnership whose certificate of limited partnership states that the limited partnership is a limited liability limited partnership.
(8) "Limited partner" means:
(A) With respect to a limited partnership, a person that:
(i) Becomes a limited partner under § 29-703.01; or
(ii) Was a limited partner in a limited partnership when the limited partnership became subject to this chapter under § 29-711.01(a) or (b); and
(B) With respect to a foreign limited partnership, a person that has rights, powers, and obligations similar to those of a limited partner in a limited partnership.
(9) "Limited partnership", except in the phrases "foreign limited partnership" and "foreign limited liability limited partnership", or "domestic limited partnership", means an entity, having one or more general partners and one or more limited partners, which is formed under this chapter by 2 or more persons or becomes subject to this chapter under subchapter X of this chapter, Chapter 2 of this title, or § 29-711.01(a) or(b). The term includes a limited liability limited partnership.
(10) "Partner" means a limited partner or general partner.
(11) "Partnership agreement" means the partners' agreement, whether oral, implied, in a record, or in any combination, concerning the limited partnership. The term includes the agreement as amended.
(12) "Person dissociated as a general partner" means a person dissociated as a general partner of a limited partnership.
(13) "Required information" means the information that a limited partnership is required to maintain under § 29-701.08.
(14) "Transferee" means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For history of Law 18-378, see notes under § 29-101.01.
Uniform Law
This section is based on § 102 of the Uniform Limited Partnership Act (2001 Act). See Vol. 6A , Uniform Laws Annotated, Master Edition or ULA Database on Westlaw.
