Alaska Statutes 32.06.502 – Partner’s transferable interest in partnership
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 32.06.502
- 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.
Except as provided in Alaska Stat. Chapter 10.55 (Alaska Entity Transactions Act), the only transferable interest of a partner in the partnership is the partner’s share of the profits and losses of the partnership and the partner’s right to receive distributions. The interest of a partner, whether or not transferable, is personal property.