Wyoming Statutes Title 17. Corporations, Partnerships and Associations § 17-14-202. Definitions

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(a) As used in this act, unless the context otherwise requires:

(i) “Certificate of limited partnership” means the certificate referred to in W.S. 17-14-301 , and the certificate as amended or restated;

(ii) “Contribution” means any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in his capacity as a partner;

(iii) “Event of withdrawal of a general partner” means an event that causes a person to cease to be a general partner as provided in W.S. 17-14-502 ;

(iv) “Foreign limited partnership” means a partnership formed under the laws of any state other than this state and having as partners one (1) or more general partners and one (1) or more limited partners;

(v) “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;

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

(vii) “Limited partnership” and “domestic limited partnership” mean a partnership formed by two (2) or more persons under the laws of this state and having one (1) or more general partners and one (1) or more limited partners;

(viii) “Partner” means a limited or general partner;

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

(x) “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;

(xi) “Person” means a natural person, partnership, limited partnership (domestic or foreign), limited liability company, trust, estate, association or corporation;

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

(xiii) “Certificate of continuance” means the certificate issued under the provisions of this act to continue a foreign limited partnership in this state;

(xiv) “Foreign limited liability limited partnership” means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to W.S. 17-14-503 ;

(xv) “Limited liability limited partnership”, except in the phrase “foreign limited liability limited partnership” means a limited partnership whose certificate of limited partnership states that the limited partnership is a limited liability limited partnership;

(xvi) “This act” means W.S. 17-14-201 through 17-14-1104 .

Cite this article: FindLaw.com - Wyoming Statutes Title 17. Corporations, Partnerships and Associations § 17-14-202. Definitions - last updated December 01, 2021 | https://codes.findlaw.com/wy/title-17-corporations-partnerships-and-associations/wy-st-sect-17-14-202.html


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