Indiana Code 23-16-1-12. Partnership interest
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Terms Used In Indiana Code 23-16-1-12
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
Sec. 12. “Partnership interest” means a partner’s share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.
As added by P.L.147-1988, SEC.1.