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Section 8442 - Becoming a partner — Pennsylvania Law | CourtGPT
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  5. Chapter 84 - General Partnershipsextra - Chapter Notes/
  6. Section 8442 - Becoming a partner
Pennsylvania Legal Code

Section 8442 - Becoming a partner

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(a) Upon formation.--Upon formation of a partnership, a person becomes a partner under section 8422(a) (relating to formation of partnership). (b) After formation.--After formation of a partnership, a person becomes a partner: (1) as provided in the partnership agreement; (2) as a result of a transaction effective under Chapter 3 (relating to entity transactions); or (3) with the affirmative vote or consent of all the partners. (c) Noneconomic partners.--A person may become a partner without: (1) acquiring a transferable interest; or (2) making or being obligated to make a contribution to the partnership. (d) Nature of interest.--The interest of a partner in a partnership is personal property. Cross References. Section 8442 is referred to in section 8412 of this title.