Partnership defined

Ind. Code § 23-4-1-6
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Sec. 6. (1) A partnership is an association of two (2) or more persons to carry on as co-owners a business for profit and includes for all purposes of the laws of this state a limited liability partnership. (2) An association formed under any other statute of this state, or any statute adopted by authority, other than the authority of this state, is not a partnership under this chapter, unless such association would have been a partnership in this state prior to January 1, 1950; but this chapter shall apply to limited partnerships except insofar as the statutes relating to such partnerships are inconsistent with this chapter. Formerly: Acts 1949, c.114, s.6. As amended by P.L.34-1987, SEC.291; P.L.230-1995, SEC.2.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/23Fetched: 10/17/2026

Starting a business in Indiana? Indiana LLC guide: costs and requirements