uniform limited partnership act

Uniform Limited Partnership Act. A model law promulgated in 1916 for adoption by state legislatures to govern the relationship between the partners of a limited partnership. • At one time it was adopted in all states except Louisiana. The National Conference of Commissioners on Uniform State Laws promulgated the Revised Uniform Limited Partnership Act (RULPA) in 1976, and made substantial amendments to it in 1985. The amended RULPA has been adopted by most states. — Abbr. ULPA.

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