Updated February 11, 2022
A New Mexico partnership agreement is a record that breaks down the duties, roles, and liabilities for all partners involved. It typically illustrates liabilities, ownership interests, dispute resolution, dissolution, and duration. The contract needs to be exhaustive for the sake of curtailing future confusion.
Partnership Types
- General Partnerships (GP) – Chapter 54, Article 1A (§§ 101-1206)
- Limited Partnership (LP) – Chapter 54, Article 2A (§§ 101-1206)
- Limited Liability Partnership (LLP) – § 54-1A-1001
- Limited Liability Limited Partnership (LLLP) – § 54-2A-201
- Limited Liability Companies (LLC) – Chapter 53, Article 19 (§§ 1-74)