Indiana Code 23-4-1-26. Nature of partner’s interest in partnership
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Terms Used In Indiana Code 23-4-1-26
- 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.
Sec. 26. A partner’s interest in the partnership is his share of the profits and surplus, and the same is personal property.
Formerly: Acts 1949, c.114, s.26.