(a) Except as otherwise provided in Subsection (b) of this section, the law of the jurisdiction in which a partnership has its chief executive office governs the relations among the partners and the partnership.
(b) The law of this state governs relations among the partners and between the partners and the partnership and the liability of partners for an obligation of a limited liability partnership.
History: Laws 1996, ch. 53, § 106; 1997, ch. 76, § 3.
The 1997 amendment, effective July 1, 1997, substituted the section heading for "Law governing internal relations", added the Subsection (a) designation and, in Subsection (a), added the exception at the beginning, and added Subsection (b).
Structure 2021 New Mexico Statutes
Article 1A - Uniform Partnerships
Article 1 - General Provisions.
Section 54-1A-101 - Definitions.
Section 54-1A-102 - Knowledge and notice.
Section 54-1A-103 - Effect of partnership agreement; nonwaivable provisions.
Section 54-1A-104 - Supplemental principles of law.
Section 54-1A-105 - Execution, filing and recording of statements.