14-8-2. Definitions.

As used in this chapter, the term:

‘‘Bankrupt’’ means a person who is the subject of:#

1. (A)

   The entry of an order for relief under Section 303(h) of the Bankruptcy Code (11 U.S.C. Section 303(h)) or the filing of a petition for voluntary bankruptcy under Section 301 of the Bankruptcy Code (11 U.S.C. Section 301) as these provisions may be now or hereafter amended; or#

2. (B)

   An equivalent order or petition under any successor statute or code of general application; or#

3. (C)

   An equivalent order or petition under any state insolvency Act.#

‘‘Business’’ includes every trade, occupation, or profession.#

‘‘Conveyance’’ includes every assignment, deed, transfer, lease (including the creation of a usufruct), mortgage or pledge of tangible, intangible, or real property, and also the creation or cancellation of any lien, encumbrance, or security title.#

‘‘Court’’ includes every court and judge having jurisdiction in the case.#

‘‘Foreign limited liability company’’ means a limited liability company formed under the laws of a jurisdiction other than this state.#

‘‘Foreign limited liability partnership’’ means any limited liability partnership and any limited liability limited partnership formed under the laws of a jurisdiction other than this state.#

‘‘Interest’’ means interest at the legal rate which applies where the rate percent is not named in the contract as provided by Code Section 7-4-2 or any successor statute.#

‘‘Limited liability company’’ means any limited liability company formed under Chapter 11 of this title.#

‘‘Limited liability partnership’’ means any partnership governed by this chapter, and any limited partnership that either is organized under Chapter 9 of this title or has elected to be subject to the provisions of Chapter 9 of this title pursuant to subsection (b) of Code Section 14-9-1201, that has become a limited liability partnership under Code Section 14-8-62 and that complies with Code Section 14-8-63.#

‘‘Person’’ includes a natural person, partnership, limited liability partnership, limited partnership (domestic or foreign), trust, estate, association, or corporation. Any person may be a partner unless the person lacks capacity apart from this chapter.#

‘‘Real property’’ includes any estate or interest, including usufructory interests, in, over, or under land, including minerals, structures, fixtures, and other things which by custom, usage, or law pass with a conveyance of land though not described or mentioned in an instrument of conveyance or in a contract to make such a conveyance.#