Md. Code Ann., Corps. & Ass'ns § 10-101
Definitions
Effective Jul 1, 1998Added by Acts 1981, c. 801, § 2. Amended by Acts 1997, c. 654, § 2, eff. July 1, 1998; Acts 1997, c. 659, § 1, eff. Oct. 1, 1997.State of Maryland
- (a) In this title, unless the context requires otherwise, the following words have the meanings indicated.
- (b) “Certificate” means the certificate referred to in § 10-201 of this title, the certificate as amended, and the certificate of cancellation.
- (c) “Consent” means a writing consenting to a specified act or event.
- (d) “Contribution” means 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 as capital to a limited partnership in that individual's capacity as a partner.
- (e) “Event of withdrawal of a general partner” means an event that causes a person to cease to be a general partner as provided in § 10-402 of this title.
- (f) “Foreign limited partnership” means a partnership formed under the laws of any state other than the State of Maryland or under the laws of a foreign country and having as partners one or more general partners and one or more limited partners.
- (g) “General partner” means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and has been named as a general partner in the certificate or similar instrument of the state or foreign country under which the limited partnership is organized if so required.
- (h) “Limited partner” means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement and has been named as a limited partner in the certificate or similar instrument of the state or foreign country under which the limited partnership is organized if so required.
- (i) “Limited partnership” and “domestic limited partnership” mean a partnership formed by two or more persons under the laws of the State and having one or more general partners and one or more limited partners.
- (j) “Partner” means a limited or general partner.
- (k) “Partnership” means a partnership formed under § 9A-202 of this article, or any predecessor law, but not including a domestic or foreign limited partnership.
- (l) “Partnership agreement” means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business.
- (m) “Partnership interest” means a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.
- (n) “Person” means a natural person, partnership, limited partnership (domestic or foreign), trust, estate, association, limited liability company (domestic or foreign), or corporation.
- (o) “State” means a state, territory, possession, or district of the United States.
Added by Acts 1981, c. 801, § 2. Amended by Acts 1997, c. 654, § 2, eff. July 1, 1998; Acts 1997, c. 659, § 1, eff. Oct. 1, 1997.