Oklahoma Statutes
Title 54. Partnership
§54-1-1001. Nature and purpose - Statement of qualification.

Nature and Purpose; Statement of Qualification.

(a) A limited liability partnership is a partnership under the laws of this state and may engage in any business in this state in which a partnership may engage including, but not limited to, the rendering of professional services as defined in paragraph 6 of subsection A of Section 803 of Title 18 of the Oklahoma Statutes or the rendering of related professional services as defined in paragraph 7 of subsection A of Section 803 of Title 18 of the Oklahoma Statutes.
(b) A partnership may become a limited liability partnership pursuant to this section.
(c) The terms and conditions on which a partnership becomes a limited liability partnership must be approved by the vote necessary to amend the partnership agreement except, in the case of a partnership agreement that expressly considers obligations to contribute to the partnership, by the vote necessary to amend those provisions.
(d) After the approval required by subsection (c) of this section, a partnership may become a limited liability partnership by filing a statement of qualification with the Secretary of State. The statement must contain:
(1) the name of the partnership;
(2) the street address of the partnership's chief executive office and, if different, the street address of an office of the partnership in this state, if any;
(3) if the partnership does not have an office in this state, the name and street address of the partnership's agent for service of process;
(4) a statement that the partnership elects to be a limited liability partnership; and
(5) a deferred effective date, if any.
(e) The agent of a limited liability partnership for service of process must be an individual resident of this state, a domestic corporation, limited liability company, limited partnership, or limited liability partnership; or a foreign corporation, limited liability company, limited partnership, or limited liability partnership having a place of business and authorized to do business in this state.
(f) The status of a partnership as a limited liability partnership is effective on the later of the filing of the statement or a date specified in the statement. The status remains effective, regardless of changes in the partnership, until it is canceled pursuant to subsection (d) of Section 1-105 of this title. A statement of dissolution filed under Section 1-805 of this title effects a cancellation upon completion of the partnership’s winding up. For purposes of this subsection (f) of this section only, the winding up is presumed to be complete on the first anniversary of the filing of the statement of dissolution, which may be rebutted by the prior filing of a statement indicating that the partnership is continuing.
(g) The status of a partnership as a limited liability partnership and the liability of its partners is not affected by errors or later changes in the information required to be contained in the statement of qualification under subsection (c) of this section.
(h) The filing of a statement of qualification establishes that a partnership has satisfied all conditions precedent to the qualification of the partnership as a limited liability partnership.
(i) An amendment or cancellation of a statement of qualification is effective when it is filed or on a deferred effective date specified in the amendment or cancellation.
Added by Laws 1997, c. 399, § 55, eff. Nov. 1, 1997. Amended by Laws 2008, c. 253, § 37.
NOTE: Laws 2008, c. 382, § 315, which changed the effective date of Laws 2008, c. 253, §§ 1-47 to Jan. 1, 2010, was held unconstitutional by the Oklahoma Supreme Court in the case of Weddington v. Henry, 202 P.3d 143, 2008 OK 102 (2009).

Structure Oklahoma Statutes

Oklahoma Statutes

Title 54. Partnership

§54-1-100. Short title.

§54-1-101. Definitions.

§54-1-102. Knowledge and Notice.

§54-1-103. Effect of Partnership Agreement; Nonwaivable Provisions.

§54-1-104. Supplemental Principles of Law.

§54-1-105. Execution, filing, and recording of statements.

§54-1-106. Governing Law.

§54-1-107. Partnership subject to amendment or repeal of act.

§54-1-201. Partnership as entity.

§54-1-202. Formation of Partnership.

§54-1-203. Partnership Property.

§54-1-204. When Property is Partnership Property.

§54-1-301. Partner Agent of Partnership.

§54-1-302. Transfer of Partnership Property.

§54-1-303. Statement of Partnership Authority.

§54-1-304. Statement of Denial.

§54-1-305. Partnership Liable for Partner's Actionable Conduct.

§54-1-306. Partner's liability.

§54-1-307. Actions By and Against Partnership and Partners.

§54-1-308. Liability of Purported Partner.

§54-1-309. Security for Payment of Claims.

§54-1-401. Partner's Rights and Duties.

§54-1-402. Distributions in Kind.

§54-1-403. Partner's Rights and Duties with Respect to Information.

§54-1-404. General Standards of Partner's Conduct.

§54-1-405. Actions by Partnership and Partners.

§54-1-406. Continuation of Partnership beyond Definite Term or Particular Undertaking.

§54-1-501. Partner not Co-owner of Partnership Property.

§54-1-502. Partner's Transferable Interest in Partnership.

§54-1-503. Transfer of Partner's Transferable Interest.

§54-1-504. Partner's Transferable Interest Subject to Charging Order.

§54-1-601. Events Causing Partner's Dissociation.

§54-1-602. Partner's Power to Dissociate; Wrongful Dissociation.

§54-1-603. Effect of Partner's Dissociation.

§54-1-701. Purchase of Dissociated Partner's Interest.

§54-1-702. Dissociated Partner's Power to Bind and Liability to Partnership.

§54-1-703. Dissociated Partner's Liability to Other Persons.

§54-1-704. Statement of Dissociation.

§54-1-705. Continued Use of Partnership Name.

§54-1-801. Events Causing Dissolution and Winding Up of Partnership Business.

§54-1-802. Partnership Continues After Dissolution.

§54-1-803. Right to Wind Up Partnership Business.

§54-1-804. Partner's Power to Bind Partnership After Dissolution.

§54-1-805. Statement of Dissolution.

§54-1-806. Partner's Liability to Other Partners After Dissolution.

§54-1-807. Settlement of Accounts and Contributions Among Partners.

§54-1-901. Definitions.

§54-1-902. Conversion of organization other than partnership to domestic partnership - Conversion of domestic partnership to another organization.

§54-1-903. Filings Required for Conversion - Effective Date.

§54-1-904. Effect of conversion - Entity unchanged.

§54-1-905. Merger of Partnerships.

§54-1-906. Effect of Merger.

§54-1-907. Statement of Merger.

§54-1-908. Nonexclusive.

§54-1-909. Personal liability of partner of converting or constituent partnership - Consent.

§54-1-1001. Nature and purpose - Statement of qualification.

§54-1-1002. Name.

§54-1-1101. Law Governing Foreign Limited Liability Partnership.

§54-1-1102. Statement Of Foreign Qualification.

§54-1-1103. Effect Of Failure To Qualify.

§54-1-1104. Activities Not Constituting Transacting Business.

§54-1-1105. Action By Attorney General.

§54-1-1201. Uniformity of Application and Construction.

§54-1-1206. Applicability.

§54-1-1207. Savings Clause.

§54-81. Certificate where fictitious name used - Filing - Exemption.

§54-83. Execution of certificate - Acknowledgment - Effect of noncompliance - Compliance at any time.

§54-84. Amended certificate to be filed, when.

§54-84.1. Certificate of cancellation of fictitious name.

§54-500-101A. Short title.

§54-500-102A. Definitions.

§54-500-103A. Knowledge and notice.

§54-500-104A. Nature, purpose, and duration of entity.

§54-500-105A. Powers.

§54-500-106A. Governing law.

§54-500-107A. Supplemental principles of law - Rate of interest.

§54-500-108A. Name.

§54-500-109A. Reservation of name.

§54-500-110A. Effect of partnership agreement - Nonwaivable provision.

§54-500-111A. Required information.

§54-500-112A. Business transactions of partner with partnership.

§54-500-113A. Dual capacity.

§54-500-114A. Office and agent for service of process.

§54-500-115A. Change of designated office or agent for service of process.

§54-500-116A. Resignation of agent for service of process.

§54-500-117A. Service of process.

§54-500-118A. Consent and proxies of partners.

§54-500-201A. Formation of limited partnership - Certificate of limited partnership.

§54-500-202A. Amendment or restatement of certificate.

§54-500-203A. Statement of cessation.

§54-500-204A. Signing of records.

§54-500-205A. Signing and filing pursuant to judicial order.

§54-500-206A. Delivery to and filing of records by Secretary of State - Effective time and date - Fees.

§54-500-207A. Correcting filed record.

§54-500-208A. Liability for false information in filed record.

§54-500-209A. Certificate of good standing.

§54-500-210A. Annual certificate for Secretary of State.

§54-500-301A. Becoming limited partner.

§54-500-302A. No right or power as limited partner to bind limited partnership.

§54-500-303A. No liability as limited partner for limited partnership obligations.

§54-500-304A. Right of limited partner and former limited partner to information.

§54-500-305A. Limited duties of limited partners.

§54-500-306A. Person erroneously believing self to be limited partner.

§54-500-401A. Becoming general partner.

§54-500-402A. General partner agent of limited partnership.

§54-500-403A. Limited partnership liable for general partner's actionable conduct.

§54-500-404A. General partner's liability.

§54-500-405A. Actions by and against partnership and partners.

§54-500-406A. Management rights of general partner.

§54-500-407A. Right of general partner and former general partner to information.

§54-500-408A. General standards of general partner's conduct.

§54-500-501A. Form of contribution.

§54-500-502A. Liability for contribution.

§54-500-503A. Sharing of distributions.

§54-500-504A. Interim distributions.

§54-500-505A. No distribution on account of dissociation.

§54-500-506A. Distribution in kind.

§54-500-507A. Right to distribution.

§54-500-508A. Limitations on distribution.

§54-500-509A. Liability for improper distributions.

§54-500-601A. Dissociation as limited partner.

§54-500-602A. Effect of dissociation as limited partner.

§54-500-603A. Dissociation as general partner.

§54-500-604A. Person's power to dissociate as general partner - Wrongful dissociation.

§54-500-605A. Effect of dissociation as general partner.

§54-500-606A. Power to bind and liability to limited partnership before dissolution of partnership of person dissociated as general partner.

§54-500-607A. Liability to other persons of person dissociated as general partner.

§54-500-701A. Partner's transferable interest.

§54-500-702A. Transfer of partner's transferable interest.

§54-500-703A. Rights of creditor of partner or transferee.

§54-500-704A. Power of estate of deceased partner.

§54-500-801A. Nonjudicial dissolution.

§54-500-802A. Judicial dissolution.

§54-500-803A. Winding up.

§54-500-804A. Power of general partner and person dissociated as general partner to bind partnership after dissolution.

§54-500-805A. Liability after dissolution of general partner and person dissociated as general partner to limited partnership - Other general partners - Persons dissociated as general partner.

§54-500-806A. Known claims against dissolved limited partnership.

§54-500-807A. Other claims against dissolved limited partnership.

§54-500-808A. Liability of general partner and person dissociated as general partner when claim against limited partnership barred.

§54-500-809A. Cessation of good standing.

§54-500-810A. Reinstatement after cessation of good standing.

§54-500-811A. Appeal from denial of reinstatement.

§54-500-812A. Disposition of assets - When contributions required.

§54-500-901A. Governing law.

§54-500-902A. Application for certificate of authority.

§54-500-903A. Activities not constituting transacting business.

§54-500-904A. Filing of certificate of authority.

§54-500-905A. Noncomplying name of foreign limited partnership.

§54-500-906A. Revocation of certificate of authority.

§54-500-907A. Cancellation of certificate of authority - Effect of failure to have certificate.

§54-500-908A. Action by Attorney General.

§54-500-1001A. Direct action by partner.

§54-500-1002A. Derivative action.

§54-500-1003A. Proper plaintiff.

§54-500-1004A. Pleading.

§54-500-1005A. Proceeds and expenses.

§54-500-1101A. Definitions.

§54-500-1102A. Conversion.

§54-500-1103A. Action on plan of conversion by converting limited partnership.

§54-500-1104A. Filings required for conversion - Effective date.

§54-500-1105A. Effect of conversion.

§54-500-1106A. Merger.

§54-500-1107A. Action on plan of merger by constituent limited partnership.

§54-500-1108A. Filings required for merger - Effective date.

§54-500-1109A. Effect of merger.

§54-500-1110A. Restrictions on approval of conversions and mergers and on relinquishing LLP Status.

§54-500-1111A. Liability of general partner after conversion or merger.

§54-500-1112A. Power of general partners and persons dissociated as general partners to bind organization after conversion or merger.

§54-500-1113A. Article not exclusive.

§54-500-1201A. Uniformity of application and construction.

§54-500-1202A. Relation to electronic signatures in Global and National Commerce Act.

§54-500-1203A. Application to existing relationships.

§54-500-1207A. Savings clause.