A partner’s interest in the partnership is his or her share of the profits and surplus, and his or her share of the profits and surplus is personal property.

History of Section.
R.P.L. 1957, ch. 74, § 26.

Terms Used In Rhode Island General Laws 7-12-37

  • 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.
  • Personal property: All property that is not real property.

§ 7-12-37. [Repealed effective January 1, 2023.]

History of Section.
R.P.L. 1957, ch. 74, § 26; repealed by P.L. 2022, ch. 123, § 1, effective January 1, 2023; repealed by P.L. 2022, ch. 124, § 1, effective January 1, 2023.