Montana Code 35-13-206. Partnership not dissolved by sale of interest — purchaser becomes partner
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35-13-206. Partnership not dissolved by sale of interest — purchaser becomes partner. One of the partners in a mining partnership may convey the partner’s interest in the mine and business without dissolving the partnership. The purchaser from the date of purchase becomes a member of the partnership.
Terms Used In Montana Code 35-13-206
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.