CHAPTER 2. Mining Partnerships [3940. - 3950.]
Chapter 2 added by Stats. 1988, Ch. 259, Sec. 11.
§§ 3940–3950 · 11 sections
- § 3940 A mining partnership exists when two or more persons who own or acquire a mining claim for the purpose of working it and extracting the mineral therefrom…
- § 3941 An express agreement to become partners or to share the profits and losses of mining is not necessary to the formation or existence of a mining partnership.…
- § 3942 A member of a mining partnership shares in the profits and losses thereof in the proportion which the interest or share he or she owns in the mine bears to the…
- § 3943 Each member of a mining partnership has a lien on the partnership property for the debts due the creditors thereof, and for money advanced by him or her for…
- § 3944 The mining-ground owned and worked by partners in mining, whether purchased with partnership funds or not, is partnership property.
- § 3945 One of the partners in a mining partnership may convey his or her interest in the mine and business without dissolving the partnership. The purchaser, from the…
- § 3946 A purchaser of an interest in the mining-ground of a mining partnership takes it subject to the liens existing in favor of the partners for debts due all…
- § 3947 A purchaser of the interest of a partner in a mine when the partnership is engaged in working it, takes with notice of all liens resulting from the relation of…
- § 3948 No member of a mining partnership or other agent or manager thereof can, by a contract in writing, bind the partnership, except by express authority derived…
- § 3949 The decision of the members owning a majority of the shares or interests in a mining partnership binds it in the conduct of its business.
- § 3950 This chapter does not apply to any operations for the extraction of oil, gas, and other hydrocarbons.