Chapter 54, Article 2A NMSA 1978 may be cited as the "Uniform Revised Limited Partnership Act".
History: Laws 2007, ch. 129, § 101; 2009, ch. 181, § 1.
Compiler's note. — The Uniform Revised Limited Partnership Act repeals the Uniform Limited Partnership Act, § 54-2-1 NMSA 1978, effective January 1, 2009. For the prior Uniform Limited Partnership Act, see the 2006 NMSA 1978 on NMOneSource.com.
The 2009 amendment, effective July 1, 2009, changed "This act" to "Chapter 54, Article 2A NMSA 1978".
Object of limited partnership. — A limited partnership is strictly a creature of statute, its object being to enable persons not desiring to engage in a particular business to invest capital in it and to share in the profits which might be expected to result from its use, without becoming liable as general partners for all partnership debts. Hoefer v. Hall, 1965-NMSC-148, 75 N.M. 751, 411 P.2d 230.
Partnership upon execution of agreement. — Where a written agreement is clear and unambiguous that the parties agreed to form a limited partnership pursuant to statute and to execute a certificate setting forth its duration and specifically providing that a partnership was to begin upon the execution of the certificate, a limited partnership as between the parties came into existence upon their execution of the certificate of limited partnership. Hoefer v. Hall, 1965-NMSC-148, 75 N.M. 751, 411 P.2d 230.
Law reviews. — For article, "The Use (or Abuse) of the Limited Partnership in Financing Real Estate Ventures in New Mexico," see 3 N.M. L. Rev. 251 (1973).
Am. Jur. 2d, A.L.R. and C.J.S. references. — 59A Am. Jur. 2d Partnership §§ 1237, 1238.
Liability of special partner who has withdrawn his capital, to creditors of the firm, 67 A.L.R. 1096.
Constitutionality. 18 A.L.R.2d 1360.
Construction and effect of statute as to doing business under an assumed or fictitious name or designation not showing the names of the persons interested, 42 A.L.R.2d 516.
68 C.J.S. Partnership § 449.
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