Alaska Statutes 32.11.900 – Definitions

In this chapter, unless the context otherwise requires,

(1) “certificate of limited partnership” means the certificate referred to in Alaska Stat. § 32.11.010 and the certificate as amended or restated;

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Terms Used In Alaska Statutes 32.11.900

Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
certificate of limited partnership: means the certificate referred to in Alaska Stat. See Alaska Statutes 32.11.900
commissioner: means the commissioner of commerce, community, and economic development. See Alaska Statutes 32.11.900
department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 32.11.900
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. See Alaska Statutes 32.11.900
limited partner: means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement. See Alaska Statutes 32.11.900
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 or general partner. See Alaska Statutes 32.11.900
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 a valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business. See Alaska Statutes 32.11.900
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
property: includes real and personal property. See Alaska Statutes 01.10.060
state: means a state, territory, or possession of the United States, District of Columbia, or Commonwealth of Puerto Rico. See Alaska Statutes 32.11.900

(2) “commissioner” means the commissioner of commerce, community, and economic development;

(3) “contribution” means cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, that a partner contributes to a limited partnership as a partner;

(4) “department” means the Department of Commerce, Community, and Economic Development;

(5) “event of withdrawal of a general partner” means an event that causes a person to cease to be a general partner under Alaska Stat. § 32.11.160;

(6) “foreign limited partnership” means a partnership formed under the laws of a state other than this state and having as partners one or more general partners and one or more limited partners;

(7) “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;

(8) “limited partner” means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement;

(9) “limited partnership,” except when used in the phrases “foreign limited partnership” and “foreign limited liability limited partnership,” and “domestic limited partnership” mean a partnership formed by two or more persons under this chapter, or that becomes subject to this chapter, and having one or more general partners and one or more limited partners;

(10) “partner” means a limited or general partner;

(11) “partnership agreement” means a valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business;

(12) “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;

(13) “state” means a state, territory, or possession of the United States, District of Columbia, or Commonwealth of Puerto Rico.

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