Vermont Statutes Title 11 Sec. 3241
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Terms Used In Vermont Statutes Title 11 Sec. 3241
- 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.
- Partnership: means an association of two or more persons to carry on as co-owners a business for profit formed under section 3212 of this title, predecessor law, or comparable law of another jurisdiction and includes for all purposes of the laws of this State a limited liability partnership. See
- Property: means all property, real, personal, or mixed, tangible or intangible, or any interest therein. See
§ 3241. Partner not co-owner of partnership property
A partner is not a co-owner of partnership property and has no interest in partnership property which can be transferred, either voluntarily or involuntarily. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)