S.B.
256
UNINCORPORATED BUSINESS ENTITIES ACT AMENDMENTS
Senate Committee
Amendments
Amendment 1 February 13, 2012 3:48 PM
Senator Lyle W. Hillyard proposes the following amendments:
1. Page 3, Line 83 through Page 4, Line 94 :
83 (4) With respect to a limited partnership that elects pursuant to Subsection (1)(b) to be
84 subject to this chapter, after the election takes effect the provisions of this chapter relating to
85 the liability of the limited partnership's general partners to third parties apply:
86 (a) before
{
July 1, [2012] 2013
}
January 1, 2015
, to:
87 (i) a third party that had not done business with the limited partnership in the year
88 before the election took effect; and
89 (ii) a third party that had done business with the limited partnership in the year before
90 the election took effect only if the third party knows or has received a notification of the
91 election; and
92 (b) on and after
{
July 1, [2012] 2013
}
January 1, 2015
, to all third parties, but those
provisions remain
93 inapplicable to any obligation incurred while those provisions were inapplicable under
94 Subsection (4)(a)(ii).
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