15 Pa. C.S. § 8442

Current through Pa Acts 2024-53, 2024-56 through 2024-79
Section 8442 - Becoming a partner
(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.

15 Pa.C.S. § 8442

Added by P.L. TBD 2016 No. 170, § 25, eff. 2/19/2017.