technical correction; limited partnership

Plain English Breakdown

The official source material does not provide specific details on how this change will affect the clarity or uniformity of laws among different states.

Technical Fix for Limited Partnerships

This bill makes a small change to Arizona's laws about limited partnerships.

What This Bill Does

• Updates section 29-360 of Arizona's Revised Statutes to better explain how limited partnership laws work.

Who It Names or Affects

• Businesses that are set up as limited partnerships in Arizona.

Terms To Know

Limited Partnership

A type of business where there are two kinds of partners: general partners who run the business and take risks, and limited partners who invest money but do not manage the company or risk losing more than their investment.

Limits and Unknowns

• The bill only makes a small change to existing law and does not create new rules for limited partnerships.
• It is unclear if this change will affect how limited partnerships operate in practice, but it aims to make the law clearer.

Official Summary Text

HB2871 - technical correction; limited partnership

Current Bill Text

HB2871 - 572R - I Ver

REFERENCE TITLE:
technical correction; limited partnership

State of Arizona

House of Representatives

Fifty-seventh Legislature

Second Regular Session

2026

HB 2871

Introduced by

Representative
Weninger

AN
ACT

amending section 29-360, Arizona Revised
Statutes; relating to limited partnerships.

(TEXT OF BILL BEGINS ON NEXT PAGE)

Be it enacted by the Legislature of the State of Arizona:

Section 1. Section 29-360, Arizona Revised
Statutes, is amended to read:

START_STATUTE
29-360.

Construction and application

This chapter shall be so applied and construed to effectuate
its general purpose to make uniform the law with respect to the subject of
this

the uniform limited partnership
act
among states enacting it.