§ 7-12-17 - Partnership defined.
SECTION 7-12-17
§ 7-12-17 Partnership defined. – (a) A partnership is an association of two (2) or more persons to carry on asco-owners a business for profit, and includes a registered limited liabilitypartnership.
(b) Any association formed under any other statute of thisstate, or any statute adopted by authority, other than the authority of thestate, is not a partnership under §§ 7-12-12 – 7-12-59, unlessthe association would have been a partnership in this state prior to May 6,1957; but §§ 7-12-12 – 7-12-59 apply to limited partnershipsexcept insofar as the statutes relating to partnerships are inconsistent withthese provisions.