Tennessee Code 61-2-803 – Winding up
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Terms Used In Tennessee Code 61-2-803
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Court of record: means a court of equity jurisdiction in the county where the partnership maintains its registered office, or if it maintains no registered office in any county, then in a court of equity jurisdiction in Davidson County. See Tennessee Code 61-2-101
- General partner: means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and is so named in the certificate of limited partnership or similar instrument under which the limited partnership is organized, if so required. See Tennessee Code 61-2-101
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Liquidating trustee: means a person, other than a general partner, but including a limited partner, carrying out the winding up of a limited partnership. See Tennessee Code 61-2-101
- Partner: means a limited or general partner. See Tennessee Code 61-2-101
- 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.
- Person: means a natural person, a foreign or domestic partnership (whether general or limited), trust, estate, association, corporation, custodian, nominee or any other individual or entity in its own or any representative capacity. See Tennessee Code 61-2-101
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
- Trustee: A person or institution holding and administering property in trust.