State Codes and Statutes

Statutes > California > Prc > 3940-3950

PUBLIC RESOURCES CODE
SECTION 3940-3950



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 actually engage in working the
claim. To the extent not inconsistent with this chapter, mining
partnerships shall be governed in the same manner as other general
partnerships would be governed pursuant to Section 16111 of the
Corporations Code, by the Uniform Partnership Act (Chapter 1
(commencing with Section 15001) of Title 2 of the Corporations Code),
or the Uniform Partnership Act of 1994 (Chapter 5 (commencing with
Section 16100) of Title 2 of the Corporations Code).



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. The relation arises from the
ownership of shares or interests in a mine and working it for the
purpose of extracting the minerals therefrom.



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 whole partnership capital or whole
number of shares.


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 its use. This lien exists
notwithstanding that there is an agreement among the partners that it
shall not.



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 date of his or her purchase,
becomes a member of the partnership.


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 creditors thereof, or advances made for
the benefit of the partnership, unless he or she purchased in good
faith, for a valuable consideration, without notice of that lien.




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 the partners to each other and to the
creditors of the partnership.


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 from the members thereof.



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.


State Codes and Statutes

Statutes > California > Prc > 3940-3950

PUBLIC RESOURCES CODE
SECTION 3940-3950



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 actually engage in working the
claim. To the extent not inconsistent with this chapter, mining
partnerships shall be governed in the same manner as other general
partnerships would be governed pursuant to Section 16111 of the
Corporations Code, by the Uniform Partnership Act (Chapter 1
(commencing with Section 15001) of Title 2 of the Corporations Code),
or the Uniform Partnership Act of 1994 (Chapter 5 (commencing with
Section 16100) of Title 2 of the Corporations Code).



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. The relation arises from the
ownership of shares or interests in a mine and working it for the
purpose of extracting the minerals therefrom.



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 whole partnership capital or whole
number of shares.


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 its use. This lien exists
notwithstanding that there is an agreement among the partners that it
shall not.



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 date of his or her purchase,
becomes a member of the partnership.


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 creditors thereof, or advances made for
the benefit of the partnership, unless he or she purchased in good
faith, for a valuable consideration, without notice of that lien.




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 the partners to each other and to the
creditors of the partnership.


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 from the members thereof.



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.



State Codes and Statutes

State Codes and Statutes

Statutes > California > Prc > 3940-3950

PUBLIC RESOURCES CODE
SECTION 3940-3950



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 actually engage in working the
claim. To the extent not inconsistent with this chapter, mining
partnerships shall be governed in the same manner as other general
partnerships would be governed pursuant to Section 16111 of the
Corporations Code, by the Uniform Partnership Act (Chapter 1
(commencing with Section 15001) of Title 2 of the Corporations Code),
or the Uniform Partnership Act of 1994 (Chapter 5 (commencing with
Section 16100) of Title 2 of the Corporations Code).



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. The relation arises from the
ownership of shares or interests in a mine and working it for the
purpose of extracting the minerals therefrom.



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 whole partnership capital or whole
number of shares.


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 its use. This lien exists
notwithstanding that there is an agreement among the partners that it
shall not.



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 date of his or her purchase,
becomes a member of the partnership.


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 creditors thereof, or advances made for
the benefit of the partnership, unless he or she purchased in good
faith, for a valuable consideration, without notice of that lien.




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 the partners to each other and to the
creditors of the partnership.


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 from the members thereof.



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.


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