Definitions
Effective Oct 1, 2015(Added to NRS by 1985, 1279; A 1987, 65; 1995, 2114; 1997, 724; 1999, 1620; 2001, 101, 2725; 2003, 3149; 2003, 20th Special Session, 91; 2007, 2685; 2009, 1709; 2011, 99, 2805; 2015, 1308)
As used in this chapter, unless the context otherwise requires:
- 1. “Certificate of limited partnership” means the certificate referred to in NRS 88.350, and the certificate as amended or restated.
- 2. “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 to a limited partnership in his or her capacity as a partner.
- 3. “Event of withdrawal of a general partner” means an event that causes a person to cease to be a general partner as provided in NRS 88.450.
- 4. “Foreign limited partnership” means a partnership formed under the laws of a jurisdiction other than this State and having as partners one or more general partners and one or more limited partners.
5. “Foreign registered limited-liability limited partnership” means a foreign limited-liability limited partnership:
- (a) Formed pursuant to an agreement governed by the laws of another state; and
- (b) Registered pursuant to and complying with NRS 88.570 to 88.605, inclusive, and 88.609.
- 6. “General partner” means 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.
- 7. “Limited partner” means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement.
- 8. “Limited partnership” and “domestic limited partnership” mean a partnership formed by two or more persons under the laws of this State and having one or more general partners and one or more limited partners, including a restricted limited partnership.
- 9. “Partner” means a limited or general partner.
- 10. “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.
- 11. “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.
12. “Registered limited-liability limited partnership” means a limited partnership:
- (a) Formed pursuant to an agreement governed by this chapter; and
- (b) Registered pursuant to and complying with NRS 88.350 to 88.415, inclusive, 88.548, 88.606, 88.6065 and 88.607.
- 13. “Registered agent” has the meaning ascribed to it in NRS 77.230.
- 14. “Registered office” means the office maintained at the street address of the registered agent.
- 15. “Restricted limited partnership” means a limited partnership organized and existing under this chapter that elects to include the optional provisions permitted by NRS 88.350.
- 16. “State” means a state, territory or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico.
(Added to NRS by 1985, 1279; A 1987, 65; 1995, 2114; 1997, 724; 1999, 1620; 2001, 101, 2725; 2003, 3149; 2003, 20th Special Session, 91; 2007, 2685; 2009, 1709; 2011, 99, 2805; 2015, 1308)