Indiana Code 23-4-3-1. Settling and closing affairs
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Terms Used In Indiana Code 23-4-3-1
- 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. 1. In case of the death of one (1) partner, the surviving partner or partners shall proceed to settle and close up, as speedily as may be practicable, the partnership affairs, in accordance with the law in force and the provisions of this chapter.
Formerly: Acts 1877, c.86, s.1. As amended by P.L.34-1987, SEC.320.