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Simple English definitions for legal terms

Revised Uniform Limited Partnership Act

Read a random definition: National Agricultural Statistics Service

A quick definition of Revised Uniform Limited Partnership Act:

The Revised Uniform Limited Partnership Act is a set of rules that govern how partners in a limited partnership work together. It was created in 1916 and updated in 1976 and 1985. Most states have adopted the updated version. It helps partners understand their rights and responsibilities and how to work together fairly.

A more thorough explanation:

The Revised Uniform Limited Partnership Act (RULPA) is a model law created in 1976 by the National Conference of Commissioners on Uniform State Laws. It was designed to govern the relationship between partners in a limited partnership. The ULPA was first promulgated in 1916 and was adopted by all states except Louisiana.

The RULPA was amended in 1985 and has been adopted by most states. It provides guidelines for the formation, operation, and dissolution of limited partnerships. It also outlines the rights and responsibilities of general and limited partners.

For example, if two people want to start a business together but one of them does not want to be involved in the day-to-day operations, they could form a limited partnership. The person who is not involved in the operations would be a limited partner and would not be personally liable for the business's debts. The person who is involved in the operations would be a general partner and would be personally liable for the business's debts.

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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