Maine Revised Statutes > Title 31 > Chapter 19 > Subchapter 5 – Contributions and Distributions
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Terms Used In Maine Revised Statutes > Title 31 > Chapter 19 > Subchapter 5 - Contributions and Distributions
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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. See Maine Revised Statutes Title 31 Sec. 1302
- General partner: means :
A. See Maine Revised Statutes Title 31 Sec. 1302Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Partner: means a limited partner or general partner. See Maine Revised Statutes Title 31 Sec. 1302 Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Partnership agreement: means the partners' agreement, whether oral, implied, in a record or in any combination, concerning the limited partnership. See Maine Revised Statutes Title 31 Sec. 1302 Person: means an individual; corporation; business trust; estate; trust; partnership; limited liability company; association; joint venture; government; governmental subdivision, agency or instrumentality; public corporation; or any other legal or commercial entity. See Maine Revised Statutes Title 31 Sec. 1302 Required information: means the information that a limited partnership is required to maintain under section 1311. See Maine Revised Statutes Title 31 Sec. 1302 Transferable interest: means a partner's right to receive distributions. See Maine Revised Statutes Title 31 Sec. 1302 Transferee: means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner. See Maine Revised Statutes Title 31 Sec. 1302