{"data":{"id":"us-nm/54-1a-202","jurisdiction":"us-nm","citation":"54-1A-202","heading":"Formation of partnership.","body":"(a) Except as otherwise provided in Subsection (b), the association of two or more persons to carry on as co-owners a business for profit forms a partnership, whether or not the persons intend to form a partnership.\n(b) An association formed under a statute other than the Uniform Partnership Act (1994) [54-1A-101 to 54-1A-1206 NMSA 1978], a predecessor statute or a comparable statute of another jurisdiction is not a partnership under that act.\n(c) In determining whether a partnership is formed, the following rules apply:\n(1) joint tenancy, tenancy in common, tenancy by the entireties, joint property, common property or part ownership does not by itself establish a partnership, even if the co-owners share profits made by the use of the property;\n(2) the sharing of gross returns does not by itself establish a partnership, even if the persons sharing them have a joint or common right or interest in property from which the returns are derived; and\n(3) a person who receives a share of the profits of a business is presumed to be a partner in the business, unless the profits were received in payment:","path":["Chapter 54 - Partnerships","ARTICLE 1A Uniform Partnerships"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18557/index.do","current_through":"2022-05-12","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"b7cd19ce20891634725f8aa647c7150a73ba2c67ea1af3737230b65a51922748","source_id":"us-nm","stale":false,"prev":"us-nm/54-1a-201","next":"us-nm/54-1a-203"},"notice":"GroundRules: Original legal text. Not legal advice."}