California Public Resources Code 3942 – A member of a mining partnership shares in the profits and losses …
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A member of a mining partnership shares in the profits and losses thereof in the proportion which the interest or share he or she owns in the mine bears to the whole partnership capital or whole number of shares.
(Added by Stats. 1988, Ch. 259, Sec. 11.)
Terms Used In California Public Resources Code 3942
- 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.