The Uniform Limited Liability Company Act (ULLCA) of 1996 allows the creation of limited liability companies (LLCs), which grant the owners of the LLC with partnership tax treatment and the benefits of both corporate-style limited liability. In 1993, Montana and Wyoming adopted the 1992 version of RUPA. featuring summaries of federal and state Corporations and Associations (Profit), Corporations and Associations (Nonprofit), Partnerships West Virginia Banks and Banking , Uniform Limited Liability Company Act , Credit Unions , Business Corporation Act , Nonprofit Corporation Act Free Newsletters For article, "An Analysis of Georgia's New Partnership Law," see 36 Mercer L. Rev. It is, as the name suggests, a revision of the Uniform Partnership Act (UPA), and has been adopted by almost every state. Uniform Act for Out-of-State Probationer or Parolee Supervision . For article, "Freedom of Contract Among the Owners of a Partnership or Limited Partnership," see 36 Mercer L. Rev. Disclaimer: These codes may not be the most recent version. INDIANA: Adopted the Uniform Partnership Act in 1949. The Uniform Partnership Act (UPA), which includes revisions that are sometimes called the Revised Uniform Partnership Act (RUPA), is a uniform act (similar to a model statute), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of business partnerships by U.S. States. Each partner acts as an agent and must perform acts on behalf of the business in good faith. The … The National Conference of Commissioners on Uniform State Laws first considered a uniform law of partnership in 1902. Many small businesses are organized as partnerships. DO NOT DELETE 9/12/13 9:47 PM No. For article, "The Uniform Partnership Act as Adopted in Georgia," see 21 Ga. St. B.J. 2010 georgia code title 14 - corporations, partnerships, and associations chapter 9 - revised uniform limited partnership act. Accordingly, all references herein to RUPA are to the final 1994 revision unless otherwise indicated. The Revised Act is, therefore, largely a series of "default rules" that govern the relations among partners in situations they have not addressed in a partnership agreement. The partners (called general partners) are liable for all the debts of the GP regardless of how the debts were incurred or which partner was responsible for incurring them. GEORGIA: Adopted the Uniform Partnership Act. UPA is interstitial; it fills in the gaps in the specific partnership agreement. NCCUSL’s Revised Uniform [General] Partnershi… UK-Georgia strategic partnership and co-operation agreement. Uniform Partnership Act (1994), as finally adopted by NCCUSL, was approved by the ABA House of Delegates in August 1994. IDAHO: Adopted the Revised Uniform Partnership Act in 1998. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Uniform Management of Institutional Funds Act Ga. Code § 44-15-1 et seq. The Uniform Partnership Act (Congress Public Law 87-709, Sept. 27, 1962, 76 United States Statutes at Large 636) is a U.S. federal law, passed by the United States Congress. The Uniform Partnership Act was signed into law by President. A Partnership Agreement does not require a notary or witnesses, only the signatures of the partners to be legally binding. TITLE 14 - CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS, CHAPTER 9 - REVISED UNIFORM LIMITED PARTNERSHIP ACT, View Previous Versions of the Georgia Code, § 14-9-104 - Registered office and agents, § 14-9-106 - Authorized activity; acquisition or conveyance of interest in real property, § 14-9-107 - Business transactions of partner with partnership, § 14-9-108 - Indemnification of partners or other persons; expansion, restriction, or elimination of partner's duties and liabilities in partnership agreement. The main provisions of the law: 1. any record or signature cannot lose legal weight because it has been submitted in electronic form; 2. if the electronic signature is used in the formation of the contract, it does not lose legal weight and the need to execute its clauses; 3. if the law r… Commissioners' Prefatory Note Part I. court opinions. 2 primary focus of RUPA is the small, often informal, partnership. It specifies the standards for the use of electronic digital details, but it does not oblige companies to use electronic signatures instead of written ones. The Georgia LLC Act was signed into law by Governor Miller on April 5, 1993, with an effective date of March 1, 1994. ILLINOIS: Adopted the Uniform Partnership Act in 1917. 2010 Georgia Code TITLE 14 - CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS CHAPTER 9 - REVISED UNIFORM LIMITED PARTNERSHIP ACT ARTICLE 1 - GENERAL PROVISIONS § 14-9-100 - Short title § 14-9-101 - Definitions § 14-9-102 - Partnership name § 14-9-103 - Reservation of name § 14-9-104 - Registered office and agents § 14-9-105 - Records to be kept It is a revision of the original Uniform Partnership Act that dates back to 1914. The district court opinions to this effect are too numerous to list. Subscribe to Justia's The “shelf life” on uniform entity acts seems to be decreasing.1 The original Uniform Partnership Act (UPA) lasted eight decades, and the original Uniform Limited Partnership Act (ULPA (1916)) lasted six.