Idaho Code 53-401 – When Mining Partnership Exists
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 53-401
- 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.
A mining partnership exists when two (2) or more persons who own or acquire a mining claim for the purpose of working it and extracting the mineral therefrom, actually engage in working the same.