§ 61-1-101. Chapter Definitions
As used in this chapter: “Business” means every trade, occupation, and profession and any other activity, including the holding or ownership of property, entered into for profit; “Confirmation of good standing” means confirmation by the commissioner of revenue issued through electronic communication to the secretary of state or a certificate of tax clearance that at […]
§ 61-1-102. Knowledge and Notice
A person knows a fact if the person has actual knowledge of it. A person has notice of a fact if the person: Knows of it; Has received a notification of it; or Has reason to know it exists from all of the facts known to the person at the time in question. A person […]
§ 61-1-103. Effect of Partnership Agreement — Nonwaivable Provisions
Except as otherwise provided in subsection (b), relations among the partners and between the partners and the partnership are governed by the partnership agreement. To the extent the partnership agreement does not otherwise provide, this chapter governs relations among the partners and between the partners and the partnership. The partnership agreement may not: Vary the […]
§ 61-1-104. Supplemental Principles of Law
Unless displaced by particular provisions of this chapter, the principles of law and equity supplement this chapter. If an obligation to pay interest arises under this chapter and the rate is not specified, the rate is the applicable federal rate as determined from time to time by the United States treasury pursuant to 26 U.S.C. […]
§ 61-1-105. Execution, Filing, and Recording of Statements
A statement may be filed in the office of the secretary of state. A certified copy of a statement that is filed in an office in another state may be filed in the office of the secretary of state in the manner and form prescribed by the secretary of state. Either filing has the effect […]
§ 61-1-106. Governing Law
Except as otherwise provided in subsections (b) and (c), the law of the jurisdiction in which a partnership has its chief executive office governs relations among the partners and between the partners and the partnership. Where the partners have provided that the partnership agreement is governed by the laws of a jurisdiction other than this […]
§ 61-1-107. Partnership Subject to Amendment or Repeal of Chapter
A partnership governed by this chapter is subject to any amendment to or repeal of this chapter.