Section 6. (1) A partnership is an association of two or more persons to carry on as co-owners a business for profit and includes, for all purposes of the laws of the commonwealth, a registered limited liability partnership.

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Terms Used In Massachusetts General Laws ch. 108A sec. 6

  • 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.
  • Statute: A law passed by a legislature.

(2) But any association formed under any other statute of this state, or any statute adopted by authority, other than the authority of this state, is not a partnership under this chapter, unless such association would have been a partnership in this state prior to January first, nineteen hundred and twenty-three; but this chapter shall apply to limited partnerships except in so far as the statutes relating to such partnerships are inconsistent herewith.

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