Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 8442 - Becoming a partner(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.Added by P.L. TBD 2016 No. 170, § 25, eff. 2/19/2017.