Plain-English summary
This statute governs general partnerships in Utah, including how partnerships are formed (by agreement, written or otherwise), partners' rights and duties to each other, and how partnership property and liabilities are treated. General partnerships do not require a state filing to exist, and partners face personal liability for partnership obligations by default. The act moved from Title 48, Chapter 1d to Title 16, Chapter 18 on October 1, 2026.
Key provisions
- Formation: a partnership is an association of two or more persons carrying on as co-owners of a business for profit; no state filing is required.
- Default rules: the act supplies default rules on management, profit sharing and partner duties that apply unless a partnership agreement says otherwise.
- Liability: partners in a general partnership are personally liable for partnership obligations.
Who it affects
Anyone operating or considering a general partnership in Utah.