Louisiana Revised Statutes 47:218 – Basis of transferee partner’s interest
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Terms Used In Louisiana Revised Statutes 47:218
- 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.
The basis of an interest in a partnership acquired other than by contribution shall be determined under La. Rev. Stat. 47:139.
Added by Acts 1958, No. 441, §2.