53-403. SHARING PROFITS AND LOSSES. A member of a mining partnership shares in the profits and losses thereof in the proportion which the interest or share he owns in the mine, bears to the whole partnership capital or whole number of shares.
History:
[(53-403)R.S., sec. 3302; reen. R.C. & C.L., sec. 3363; C.S., sec. 5858; I.C.A., sec. 52-403.]
Structure Idaho Code
Chapter 4 - MINING PARTNERSHIP
Section 53-401 - WHEN MINING PARTNERSHIP EXISTS.
Section 53-402 - EXPRESS AGREEMENT NOT NECESSARY.
Section 53-403 - SHARING PROFITS AND LOSSES.
Section 53-404 - LIEN OF PARTNERS AND CREDITORS.
Section 53-405 - MINE PARTNERSHIP PROPERTY.
Section 53-406 - SALE OF INTEREST BY PARTNER.
Section 53-407 - LIABILITY OF PURCHASER FOR PARTNERS’ LIENS FOR DEBTS AND ADVANCEMENTS.
Section 53-408 - LIABILITY OF PURCHASER FOR LIENS RESULTING FROM RELATION OF PARTNERS TO EACH OTHER.
Section 53-409 - MEMBERS CANNOT BIND PARTNERSHIP.
Section 53-410 - MAJORITY OF SHARES GOVERNS.