Montana Statutes
§ 35-13-204 — Profits And Losses -- How Shared
Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 13 MINING PARTNERSHIPS·Part 2 Relations Between Partners and With Third Persons
35-13-204 . Profits and losses -- how shared. A member of a mining partnership shares in the profits and losses of the partnership in the proportion that the interest or share the member owns in the mine bears to the whole partnership capital or whole number of shares.
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Legislative History
En. Sec. 3352, Civ. C. 1895; re-en. Sec. 5537, Rev. C. 1907; re-en. Sec. 8052, R.C.M. 1921; Cal. Civ. C. Sec. 2513; re-en. Sec. 8052, R.C.M. 1935; R.C.M. 1947, 63-1003; amd. Sec. 1315, Ch. 56, L. 2009.
Nearby Sections
10
§ 35-13-101
When A Mining Partnership Exists§ 35-13-102
Express Agreement Not Necessary To Formation§ 35-13-201
When Contract In Writing Is Binding§ 35-13-202
Owners Of Majority Interest Govern§ 35-13-203
Mine -- Partnership Property§ 35-13-204
Profits And Losses -- How Shared§ 35-13-205
Lien Of Partner For Debts Due Creditors§ 35-13-208
When Purchaser Takes With Notice Of Liens