§1021. Partnership as entity 1. Distinct from partners. A partnership is an entity distinct from its partners. [PL 2005, c. 543, Pt. A, §2 (NEW).] 2. Limited liability partnership. A limited liability partnership continues to be the same entity that existed before the filing of a statement of qualification under section 821. [PL […]
§1022. Formation of partnership 1. Formation of partnership. Except as otherwise provided in subsection 2, the association of 2 or more persons to carry on as co-owners a business for profit forms a partnership, whether or not the persons intend to form a partnership. [PL 2005, c. 543, Pt. A, §2 (NEW).] 2. Not […]
§1023. Partnership property Property acquired by a partnership is property of the partnership and not of the partners individually. [PL 2005, c. 543, Pt. A, §2 (NEW).] SECTION HISTORY PL 2005, c. 543, §A2 (NEW).
§1024. When property is partnership property 1. Partnership property. Property is partnership property if acquired in the name of: A. The partnership; or [PL 2005, c. 543, Pt. A, §2 (NEW).] B. One or more partners with an indication in the instrument transferring title to the property of the person’s capacity as a […]
