ࡱ>  ܥhW e   F/111=n*JX2  / e"/=SUMMARY (Inserted for descriptive purposes. The summary is not part of the amended rule.) Rule 61J24.0061, Definition, was repealed effective January 18, 2000, because definitions of partnerships are defined elsewhere in the law. CODED TEXT 61J24.0061 Definition, repealed effective January 18, 2000. (1) A general partnership is an association of two or more persons for the purpose of jointly conducting a business, each being responsible for all of the debts incurred in the prosecution of that business, each having the power to bind the other or others in transactions coming within the fair scope of the partnership business, and each being entitled to receive a share of the profits in such proportion as shall have been agreed upon. A partnership, as between the partners, can be created only by contract, being used upon consent, which contract may be in writing, or oral, or implied from the conduct of the parties in their dealings with each other. As will be noted hereinafter, an ostensible partnership, or quasipartnership, may exist so far as the public is concerned, though contrary to the intent of the parties thereby bound as partners. A joint adventure has most of the aspects and creates most of the rights and liabilities of a partnership, except that it and the liabilities are confined to one, or at least a very limited number of, business transactions. (2) A limited partnership is one created only by an instrument in writing, filed with the Secretary of State under Chapter 620, Florida Statutes, which consists of one or more general partners and one or more limited partners. The liability of the general partner, or partners, is nearly the same as in a general partnership. A limited partner is not liable to creditors of the partnership unless the limited partner's name appears in the partnership name (with certain exceptions) or that limited partner takes part in the control of the business. (3) An ostensible (quasi) partnership exists where there is not a real partnership, but the parties act, or do business, in such manner that a member of the public, having no knowledge of the private relations of such parties, would reasonably be deceived into believing that a partnership exists. As such an arrangement is fraudulent and deceitful, it is, for the purpose of administering the law, deemed to be a partnership and any registrants who shall so operate without assuming the obligations of partners by registering as partners, and registering the partnership, shall be deemed to violate the law and these regulations, and shall be subject to suspension of their registrations. This regulation shall not be deemed to prohibit two or more brokers not registered as partners, from occupying the same office or suite of offices, provided that each broker makes the true status or capacity clear, on signs, in telephone listings, advertising, representations, and by other means of solicitation or publicity, or from engaging in a joint adventure. Advertisements reflecting that a properly registered broker is a franchisee shall not come within the meaning of an ostensible (quasi) partnership. Specific Authority 475.05 FS. Law Implemented 475.05, 475.01, 475.15 FS. HistoryNew 1180, Amended 41884, Formerly 21V4.061, Amended 72093, Formerly 21V4.0061, Repealed . FINAL VERSION 61J24.0061 Definition. Specific Authority 475.05 FS. Law Implemented 475.05, 475.01, 475.15 FS. HistoryNew 1180, Amended 41884, Formerly 21V4.061, Amended 72093, Formerly 21V4.0061, Repealed 1-18-00. /=Y1gh @ u]^cW]c]c]cU]cZ1h A-$$$$$$$$$$$$$33 K@Normala "A@"Default Paragraph Font&@Footnote Reference    f    =Michael Stoufer*D:\RealEstateWeb\ftp\Rules_2000\4-0061.wpd@HP DeskJet 540 PrinterLPT1:DESKJETCHP DeskJet 540 PrinterHP DeskJet 540 Printer(,,A^| HP DeskJet 540 Printer(,,A^| YYYYFTimes New Roman Symbol &Arial&Century Gothic" hBBx $ 2Michael StouferMichael Stoufer Root Entry F:F, e@WordDocumentCompObjjSummaryInformation(  FMicrosoft Word Document MSWordDocWord.Document.69q Oh+'0  @ L Xdlt|@e:Michael Stoufer..i Normal.dotMichael Stoufer2FMicrosoft Word for Windows 95IO@F#@DocumentSummaryInformation8  ՜.+,0HP\dl t|  A  *Ed@p ex  ՜.+,0HP\dl t|  A