reglab/housing_qa huggingface dataset:
54 OK Stat § 54-1-204 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-204. When Property is Partnership Property.

|When Property is Partnership Property. (a) Property is partnership property if acquired in the name of: |(1) the partnership; or(2) one or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership but without an indication of the name of the partnership.(b) Property is acquired in the name of the partnership by a transfer to:(1) the partnership in its name; or(2) one or more partners in their capacity as partners in the partnership, if the name of the partnership is indicated in the instrument transferring title to the property.(c) Property is presumed to be partnership property if purchased with partnership assets, even if not acquired in the name of the partnership or of one or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership.(d) Property acquired in the name of one or more of the partners, without an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership and without use of partnership assets, is presumed to be separate property, even if used for partnership purposes.Added by Laws 1997, c. 399, § 12, eff. Nov. 1, 1997.
54 OK Stat § 54-1-301 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-301. Partner Agent of Partnership.

|Partner Agent of Partnership. Subject to the effect of a statement of partnership authority under Section 15 of this act: |(1) Each partner is an agent of the partnership for the purpose of its business. An act of a partner, including the execution of an instrument in the partnership name, for apparently carrying on in the ordinary course the partnership business or business of the kind carried on by the partnership binds the partnership, unless the partner had no authority to act for the partnership in the particular matter and the person with whom the partner was dealing knew or had received a notification that the partner lacked authority.(2) An act of a partner which is not apparently for carrying on in the ordinary course the partnership business or business of the kind carried on by the partnership binds the partnership only if the act was authorized by the other partners.Added by Laws 1997, c. 399, § 13, eff. Nov. 1, 1997.
54 OK Stat § 54-1-302 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-302. Transfer of Partnership Property.

|Transfer of Partnership Property. (a) Partnership property may be transferred as follows: |(1) Subject to the effect of a statement of partnership authority under Section 15 of this act, partnership property held in the name of the partnership may be transferred by an instrument of transfer executed by a partner in the partnership name.(2) Partnership property held in the name of one or more partners with an indication in the instrument transferring the property to them of their capacity as partners or of the existence of a partnership, but without an indication of the name of the partnership, may be transferred by an instrument of transfer executed by the persons in whose name the property is held.(3) Partnership property held in the name of one or more persons other than the partnership, without an indication in the instrument transferring the property to them of their capacity as partners or of the existence of a partnership, may be transferred by an instrument of transfer executed by the persons in whose name the property is held.(b) A partnership may recover partnership property from a transferee only if it proves that execution of the instrument of initial transfer did not bind the partnership under Section 13 of this act and:(1) as to a subsequent transferee who gave value for property transferred under paragraphs (1) and (2) of subsection (a) of this section, proves that the subsequent transferee knew or had received a notification that the person who executed the instrument of initial transfer lacked authority to bind the partnership; or(2) as to a transferee who gave value for property transferred under paragraph (3) of subsection (a) of this section, proves that the transferee knew or had received a notification that the property was partnership property and that the person who executed the instrument of initial transfer lacked authority to bind the partnership.(c) A partnership may not recover partnership property from a subsequent transferee if the partnership would not have been entitled to recover the property, under subsection (b) of this section, from any earlier transferee of the property.(d) If a person holds all of the partners' interests in the partnership, all of the partnership property vests in that person. The person may execute a document in the name of the partnership to evidence vesting of the property in that person and may file or record the document.Added by Laws 1997, c. 399, § 14, eff. Nov. 1, 1997.
54 OK Stat § 54-1-304 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-304. Statement of Denial.

|Statement of Denial. A partner or other person named as a partner in a filed statement of partnership authority or in a list maintained by an agent pursuant to subsection (b) of Section 15 of this act may file with the Secretary of State a statement of denial stating the name of the partnership and the fact that is being denied, which may include denial of a person's authority or status as a partner. A statement of denial is a limitation on authority as provided in subsections (d) and (e) of Section 15 of this act. |Added by Laws 1997, c. 399, § 16, eff. Nov. 1, 1997.
54 OK Stat § 54-1-305 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-305. Partnership Liable for Partner's Actionable Conduct.

|Partnership Liable for Partner's Actionable Conduct. |(a) A partnership is liable for loss or injury caused to a person, or for a penalty incurred, as a result of a wrongful act or omission, or other actionable conduct, of a partner acting in the ordinary course of business of the partnership or with authority of the partnership.(b) If, in the course of the partnership's business or while acting with authority of the partnership, a partner receives or causes the partnership to receive money or property of a person not a partner, and the money or property is misapplied by a partner, the partnership is liable for the loss.Added by Laws 1997, c. 399, § 17, eff. Nov. 1, 1997.
54 OK Stat § 54-1-306 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-306. Partner's liability.

|Partner's liability. (a) Except as otherwise provided in subsections (b) and (c) of this section, all partners are liable jointly and severally for all obligations of the partnership unless otherwise agreed by the claimant or provided by law. |(b) A person admitted as a partner into an existing partnership is not personally liable for any partnership obligation incurred before the person's admission as a partner.(c) An obligation of a partnership incurred while the partnership is a limited liability partnership, whether arising in contract, tort, or otherwise, is solely the obligation of the partnership. A partner is not personally liable, directly or indirectly, by way of contribution or otherwise, for such an obligation solely by reason of being or so acting as a partner. This subsection applies notwithstanding anything inconsistent in the partnership agreement that existed immediately before the vote required to become a limited liability partnership under subsection (b) of Section 55 of this act.Added by Laws 1997, c. 399, § 18, eff. Nov. 1, 1997.
54 OK Stat § 54-1-307 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-307. Actions By and Against Partnership and Partners.

|Actions By and Against Partnership and Partners. (a) A partnership may sue and be sued in the name of the partnership. |(b) An action may be brought against the partnership and, to the extent not inconsistent with Section 18 of this act, any or all of the partners in the same action or in separate actions.(c) A judgment against a partnership is not by itself a judgment against a partner. A judgment against a partnership may not be satisfied from a partner's assets unless there is also a judgment against the partner.(d) A judgment creditor of a partner may not levy execution against the assets of the partner to satisfy a judgment based on a claim against the partnership unless the partner is personally liable for the claim under Section 18 of this act and:(1) a judgment based on the same claim has been obtained against the partnership and a writ of execution on the judgment has been returned unsatisfied in whole or in part;(2) the partnership is a debtor in bankruptcy;(3) the partner has agreed that the creditor need not exhaust partnership assets;(4) a court grants permission to the judgment creditor to levy execution against the assets of a partner based on a finding that partnership assets subject to execution are clearly insufficient to satisfy the judgment, that exhaustion of partnership assets is excessively burdensome, or that the grant of permission is an appropriate exercise of the court's equitable powers; or(5) liability is imposed on the partner by law or contract independent of the existence of the partnership.(e) This section applies to any partnership liability or obligation resulting from a representation by a partner or purported partner under Section 20 of this act.Added by Laws 1997, c. 399, § 19, eff. Nov. 1, 1997.
54 OK Stat § 54-1-308 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-308. Liability of Purported Partner.

|Liability of Purported Partner. (a) If a person, by words or conduct, purports to be a partner, or consents to being represented by another as a partner, in a partnership or with one or more persons not partners, the purported partner is liable to a person to whom the representation is made, if that person, relying on the representation, enters into a transaction with the actual or purported partnership. If the representation, either by the purported partner or by a person with the purported partner's consent, is made in a public manner, the purported partner is liable to a person who relies upon the purported partnership even if the purported partner is not aware of being held out as a partner to the claimant. If partnership liability results, the purported partner is liable with respect to that liability as if the purported partner were a partner. If no partnership liability results, the purported partner is liable with respect to that liability jointly and severally with any other person consenting to the representation. |(b) If a person is thus represented to be a partner in an existing partnership, or with one or more persons not partners, the purported partner is an agent of persons consenting to the representation to bind them to the same extent and in the same manner as if the purported partner were a partner, with respect to persons who enter into transactions in reliance upon the representation. If all of the partners of the existing partnership consent to the representation, a partnership act or obligation results. If fewer than all of the partners of the existing partnership consent to the representation, the person acting and the partners consenting to the representation are jointly and severally liable.(c) A person is not liable as a partner merely because the person is named by another in a statement of partnership authority.(d) A person does not continue to be liable as a partner merely because of a failure to file a statement of dissociation or to amend a statement of partnership authority to indicate the partner's dissociation from the partnership.(e) Except as otherwise provided in subsections (a) and (b) of this section, persons who are not partners as to each other are not liable as partners to other persons.Added by Laws 1997, c. 399, § 20, eff. Nov. 1, 1997.
54 OK Stat § 54-1-401 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-401. Partner's Rights and Duties.

|Partner's Rights and Duties. (a) Each partner is deemed to have an account that is: |(1) credited with an amount equal to the money plus the value of any other property, net of the amount of any liabilities, the partner contributes to the partnership and the partner's share of the partnership profits; and(2) charged with an amount equal to the money plus the value of any other property, net of the amount of any liabilities, distributed by the partnership to the partner and the partner's share of the partnership losses.(b) Each partner is entitled to an equal share of the partnership profits and is chargeable with a share of the partnership losses in proportion to the partner's share of the profits.(c) A partnership shall reimburse a partner for payments made and indemnify a partner for liabilities incurred by the partner in the ordinary course of the business of the partnership or for the preservation of its business or property.(d) A partnership shall reimburse a partner for an advance to the partnership beyond the amount of capital the partner agreed to contribute.(e) A payment or advance made by a partner which gives rise to a partnership obligation under subsection (c) or (d) of this section constitutes a loan to the partnership which accrues interest from the date of the payment or advance.(f) Each partner has equal rights in the management and conduct of the partnership business.(g) A partner may use or possess partnership property only on behalf of the partnership.(h) A partner is not entitled to remuneration for services performed for the partnership, except for reasonable compensation for services rendered in winding up the business of the partnership.(i) A person may become a partner only with the consent of all of the partners.(j) A difference arising as to a matter in the ordinary course of business of a partnership may be decided by a majority of the partners. An act outside the ordinary course of business of a partnership and an amendment to the partnership agreement may be undertaken only with the consent of all of the partners.(k) This section does not affect the obligations of a partnership to other persons under Section 13 of this act.Added by Laws 1997, c. 399, § 22, eff. Nov. 1, 1997.
54 OK Stat § 54-1-402 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-402. Distributions in Kind.

|Distributions in Kind. A partner has no right to receive, and may not be required to accept, a distribution in kind. |Added by Laws 1997, c. 399, § 23, eff. Nov. 1, 1997.
54 OK Stat § 54-1-403 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-403. Partner's Rights and Duties with Respect to Information.

|Partner's Rights and Duties with Respect to Information. (a) A partnership shall keep its books and records, if any, at its chief executive office. |(b) A partnership shall provide partners and their agents and attorneys access to its books and records. It shall provide former partners and their agents and attorneys access to books and records pertaining to the period during which they were partners. The right of access provides the opportunity to inspect and copy books and records during ordinary business hours. A partnership may impose a reasonable charge, covering the costs of labor and material, for copies of documents furnished.(c) Each partner and the partnership shall furnish to a partner, and to the legal representative of a deceased partner or partner under legal disability:(1) without demand, any information concerning the partnership's business and affairs reasonably required for the proper exercise of the partner's rights and duties under the partnership agreement or this act; and(2) on demand, any other information concerning the partnership's business and affairs, except to the extent the demand or the information demanded is unreasonable or otherwise improper under the circumstances.Added by Laws 1997, c. 399, § 24, eff. Nov. 1, 1997.
54 OK Stat § 54-1-404 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-404. General Standards of Partner's Conduct.

|General Standards of Partner's Conduct. (a) The only fiduciary duties a partner owes to the partnership and the other partners are the duty of loyalty and the duty of care set forth in subsections (b) and (c) of this section. |(b) A partner's duty of loyalty to the partnership and the other partners is limited to the following:(1) to account to the partnership and hold as trustee for it any property, profit, or benefit derived by the partner in the conduct and winding up of the partnership business or derived from a use by the partner of partnership property, including the appropriation of a partnership opportunity;(2) to refrain from dealing with the partnership in the conduct or winding up of the partnership business as or on behalf of a party having an interest adverse to the partnership; and(3) to refrain from competing with the partnership in the conduct of the partnership business before the dissolution of the partnership.(c) A partner's duty of care to the partnership and the other partners in the conduct and winding up of the partnership business is limited to refraining from engaging in grossly negligent or reckless conduct, intentional misconduct, or a knowing violation of law.(d) A partner shall discharge the duties to the partnership and the other partners under this act or under the partnership agreement and exercise any rights consistently with the obligation of good faith and fair dealing.(e) A partner does not violate a duty or obligation under this act or under the partnership agreement merely because the partner's conduct furthers the partner's own interest.(f) A partner may lend money to and transact other business with the partnership, and as to each loan or transaction the rights and obligations of the partner are the same as those of a person who is not a partner, subject to other applicable law.(g) This section applies to a person winding up the partnership business as the personal or legal representative of the last surviving partner as if the person were a partner.Added by Laws 1997, c. 399, § 25, eff. Nov. 1, 1997.
54 OK Stat § 54-1-405 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-405. Actions by Partnership and Partners.

|Actions by Partnership and Partners. (a) A partnership may maintain an action against a partner for a breach of the partnership agreement, or for the violation of a duty to the partnership, causing harm to the partnership. |(b) A partner may maintain an action against the partnership or another partner for legal or equitable relief, with or without an accounting as to partnership business, to:(1) enforce the partner's rights under the partnership agreement;(2) enforce the partner's rights under this act, including:(i)the partner's rights under Sections 22, 24, or 25 of this act;(ii)the partner's right on dissociation to have the partner's interest in the partnership purchased pursuant to Section 35 of this act or enforce any other right under Article 6 or 7 of this act; or(iii)the partner's right to compel a dissolution and winding up of the partnership business under Section 40 of this act or enforce any other right under Article 8 of this act; or(3) enforce the rights and otherwise protect the interests of the partner, including rights and interests arising independently of the partnership relationship.(c) The accrual of, and any time limitation on, a right of action for a remedy under this section is governed by other law. A right to an accounting upon a dissolution and winding up does not revive a claim barred by law.Added by Laws 1997, c. 399, § 26, eff. Nov. 1, 1997.
54 OK Stat § 54-1-406 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-406. Continuation of Partnership beyond Definite Term or Particular Undertaking.

|Continuation of Partnership beyond Definite Term or Particular Undertaking. (a) If a partnership for a definite term or particular undertaking is continued, without an express agreement, after the expiration of the term or completion of the undertaking, the rights and duties of the partners remain the same as they were at the expiration or completion, so far as is consistent with a partnership at will. |(b) If the partners, or those of them who habitually acted in the business during the term or undertaking, continue the business without any settlement or liquidation of the partnership, they are presumed to have agreed that the partnership will continue.Added by Laws 1997, c. 399, § 27, eff. Nov. 1, 1997.
54 OK Stat § 54-1-501 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-501. Partner not Co-owner of Partnership Property.

|Partner not Co-owner of Partnership Property. A partner is not a co-owner of partnership property and has no interest in partnership property which can be transferred, either voluntarily or involuntarily. |Added by Laws 1997, c. 399, § 28, eff. Nov. 1, 1997.
54 OK Stat § 54-1-502 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-502. Partner's Transferable Interest in Partnership.

|Partner's Transferable Interest in Partnership. The only transferable interest of a partner in the partnership is the partner's share of the profits and losses of the partnership and the partner's right to receive distributions. The interest is personal property. |Added by Laws 1997, c. 399, § 29, eff. Nov. 1, 1997.
54 OK Stat § 54-1-503 (2021)
2021 Oklahoma Statutes|Title 54. Partnership|§54-1-503. Transfer of Partner's Transferable Interest.

|Transfer of Partner's Transferable Interest. (a) A transfer, in whole or in part, of a partner's transferable interest in the partnership: |(1) is permissible;(2) does not by itself cause the partner's dissociation or a dissolution and winding up of the partnership business; and(3) does not, as against the other partners or the partnership, entitle the transferee, during the continuance of the partnership, to participate in the management or conduct of the partnership business, to require access to information concerning partnership transactions, or to inspect or copy the partnership books or records.(b) A transferee of a partner's transferable interest in the partnership has a right:(1) to receive, in accordance with the transfer, distributions to which the transferor would otherwise be entitled;(2) to receive upon the dissolution and winding up of the partnership business, in accordance with the transfer, the net amount otherwise distributable to the transferor; and(3) to seek under paragraph (6) of Section 40 of this act a judicial determination that it is equitable to wind up the partnership business.(c) In a dissolution and winding up, a transferee is entitled to an account of partnership transactions only from the date of the latest account agreed to by all of the partners.(d) Upon transfer, the transferor retains the rights and duties of a partner other than the interest in distributions transferred.(e) A partnership need not give effect to a transferee's rights under this section until it has notice of the transfer.(f) A transfer of a partner's transferable interest in the partnership in violation of a restriction on transfer contained in the partnership agreement is ineffective as to a person having notice of the restriction at the time of transfer.Added by Laws 1997, c. 399, § 30, eff. Nov. 1, 1997.