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Ark. Code Ann. § 4-46-204

When property is partnership property

Known as the Uniform Partnership Act

The act spans §§ 4–4 (71 sections).

Applied in 1 court decision — leading case McCrory v. Morrison (In Re James) (2006)

Most recently applied in McCrory v. Morrison (In Re James) (May 2006)

Acts 1999, No. 1518, § 204.

(1) Property is partnership property if acquired in the name of: the partnership; or

(2) one (1) or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership but without an indication of the name of the partnership.

(3) Property is acquired in the name of the partnership by a transfer to: the partnership in its name; or

(4) one (1) or more partners in their capacity as partners in the partnership, if the name of the partnership is indicated in the instrument transferring title to the property.

(5) Property is presumed to be partnership property if purchased with partnership assets, even if not acquired in the name of the partnership or of one (1) or more partners with an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership.

(6) Property acquired in the name of one (1) or more of the partners, without an indication in the instrument transferring title to the property of the person's capacity as a partner or of the existence of a partnership and without use of partnership assets, is presumed to be separate property, even if used for partnership purposes.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.