{"data":{"id":"us-ok/okla.-stat.-tit.-54-54-1-101","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 54, § 54-1-101","heading":"Definitions","body":"Definitions.\n\nAs used in this act:\n\n(1) \"Business\" includes every trade, occupation, and\n\nprofession.\n\n(2) \"Debtor in bankruptcy\" means a person who is the subject\n\nof:\n\n(i) an order for relief under Title 11 of the United\n\nStates Code or a comparable order under a successor\n\nstatute of general application; or\n\n(ii) a comparable order under federal, state, or foreign\n\nlaw governing insolvency.\n\n(3) \"Distribution\" means a transfer of money or other property\n\nfrom a partnership to a partner in the partner's capacity as a\n\npartner or to the partner's transferee.\n\n(4) \"Foreign limited liability partnership\" means a partnership\n\nthat:\n\n(i) is formed under laws other than the laws of this\n\nstate; and\n\n(ii) has the status of a limited liability partnership\n\nunder those laws.\n\n(5) \"Limited liability partnership\" means a partnership that\n\nhas filed a statement of qualification under Section 55 of this act\n\nand does not have a similar statement in effect in any other\n\njurisdiction.\n\n(6) \"Partnership\" means an association of two or more persons\n\nto carry on as co-owners a business for profit formed under Section\n\n10 of this act, predecessor law, or comparable law of another\n\njurisdiction.\n\n(7) \"Partnership agreement\" means the agreement, whether\n\nwritten, oral, or implied, among the partners concerning the\n\npartnership, including amendments to the partnership agreement; and\n\na partnership agreement binds a partner of a partnership or a\n\ntransferee of an economic interest regardless of whether the partner\n\nor transferee executes the partnership agreement.\n\n(8) \"Partnership at will\" means a partnership in which the\n\npartners have not agreed to remain partners until the expiration of\n\na definite term or the completion of a particular undertaking.\n\n(9) \"Partnership interest\" or \"partner's interest in the\n\npartnership\" means all of a partner's interests in the partnership,\n\nincluding the partner's transferable interest and all management and\n\nother rights.\n\n(10) \"Person\" means an individual, corporation, business trust,\n\nestate, trust, partnership, association, joint venture, limited\n\nliability company, government, governmental subdivision, agency, or\n\ninstrumentality, or any other legal or commercial entity.\n\n(11) \"Property\" means all property, real, personal, or mixed,\n\ntangible or intangible, or any interest therein.\n\n(12) \"State\" means a state of the United States, the District\n\nof Columbia, the Commonwealth of Puerto Rico, or any territory or\n\ninsular possession subject to the jurisdiction of the United States.\n\n(13) \"Statement\" means a statement of partnership authority\n\nunder Section 15 of this act, a statement of denial under Section 16\n\nof this act, a statement of dissociation under Section 38 of this\n\nact, a statement of dissolution under Section 44 of this act, a\n\nstatement of merger under Section 53 of this act, a statement of\n\nqualification under Section 55 of this act, a statement of foreign\n\nqualification under Section 58 of this act, or an amendment or\n\ncancellation of any of the foregoing.\n\n(14) \"Transfer\" includes an assignment, conveyance, lease,\n\nmortgage, deed, and encumbrance.","path":["OK Code","Title 54"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os54.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"79cd8547ac7dc550460cd3ea68088be28ed8a9fe4c24cb79782921ebefaf5240","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-54-54-1-1002","next":"us-ok/okla.-stat.-tit.-54-54-1-102"},"notice":"GroundRules: Original legal text. Not legal advice."}