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§ 8442. Becoming a partner

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 Pa.C.S.A. Corporations and Unincorporated AssociationsEffective: February 21, 2017

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 15 Pa.C.S.A. Corporations and Unincorporated Associations (Refs & Annos)
Part III. Partnerships and Limited Liability Companies (Refs & Annos)
Chapter 84. General Partnerships (Refs & Annos)
Subchapter D. Relations of Partners to Each Other and to Partnership (Refs & Annos)
Effective: February 21, 2017
15 Pa.C.S.A. § 8442
Formerly cited as PA ST 15 Pa.C.S.A. § 8343
§ 8442. Becoming a partner
Currentness
(a) Upon formation.--Upon formation of a partnership, a person becomes a partner under section 8422(a) (relating to formation of partnership).
(b) After formation.--After formation of a partnership, a person becomes a partner:
(1) as provided in the partnership agreement;
(2) as a result of a transaction effective under Chapter 3 (relating to entity transactions); or
(3) with the affirmative vote or consent of all the partners.
(c) Noneconomic partners.--A person may become a partner without:
(1) acquiring a transferable interest; or
(2) making or being obligated to make a contribution to the partnership.
(d) Nature of interest.--The interest of a partner in a partnership is personal property.

Credits

2016, Nov. 21, P.L. 1328, No. 170, § 25, effective in 90 days [Feb. 21, 2017].
15 Pa.C.S.A. § 8442, PA ST 15 Pa.C.S.A. § 8442
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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