What is the Uniform Partnership Act?

UPDATED: Feb 22, 2012

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What is the Uniform Partnership Act?

I have a non-profit organization my partners wants a percentage of net, can this be done? Can give partners a percentage of net, being a non-profit? 


Asked on February 22, 2012 under Business Law, Arizona


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

The Uniform Partnership Act is a proposal by the National Conference of Commissioners on uniform state law fprmation. The UPA pertains to the formation of a partnership, ownership of partnership assets, assessment of fiduciary duties, settlement of a partnership and its termination.

If you have a non-profit corporate entity, there are no partners. The entity is a corporation and profits cannot be given away for anything that is not charitable. I see an issue that you have and the need to consult with a business attorney.

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