Terms Used In Utah Code > Title 48 > Chapter 2e > Part 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 person on account of a transferable interest or in the person's capacity as a partner. See Utah Code 48-2e-102
• Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
• General partner: means a person that:
       (8)(a) has become a general partner under Section 48-2e-401 or was a general partner in a limited partnership when the limited partnership became subject to this chapter under Section 48-2e-1205; and
       (8)(b) has not dissociated as a general partner under Section 48-2e-603. See Utah Code 48-2e-102
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Limited partnership: means an entity formed under this chapter or which becomes subject to this chapter under Part 11, Merger, Interest Exchange, Conversion, and Domestication, or Section 48-2e-1205. See Utah Code 48-2e-102
• 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 Utah Code 48-2e-102
• 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 agreement, whether or not referred to as a partnership agreement, and whether oral, implied, in a record, or in any combination thereof, of all the partners of a limited partnership concerning the matters described in Subsection 48-2e-112(1). See Utah Code 48-2e-102
• Person: means an individual, business corporation, nonprofit corporation, partnership, limited partnership, limited liability company, limited cooperative association, unincorporated nonprofit association, statutory trust, business trust, common-law business trust, estate, trust, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Utah Code 48-2e-102
• Property: means all property, whether real, personal, or mixed or tangible or intangible, or any right or interest therein. See Utah Code 48-2e-102
• Required information: means the information that a limited partnership is required to maintain under Section 48-2e-115. See Utah Code 48-2e-102
• right of contribution: means property or a benefit described in Section 48-2e-501 which is provided by a person to a limited partnership to become a partner or in the person's capacity as a partner. See Utah Code 48-2e-102
• Transfer: includes :
       (25)(a) an assignment;
       (25)(b) a conveyance;
       (25)(c) a sale;
       (25)(d) a lease;
       (25)(e) an encumbrance, including a mortgage or security interest;
       (25)(f) a gift; and
       (25)(g) a transfer by operation of law. See Utah Code 48-2e-102
• 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 Utah Code 48-2e-102