26 U.S.C. § 6223 — Partners bound by actions of partnership
submitted 11 years ago by Pub. L. 114-74 to r/title-26-INTERNAL-REVENUE-CODE · 113 words · no verdicts yet
Each partnership must name a partnership representative with a substantial U.S. presence. The representative alone may act for the partnership under this subchapter, and the partnership and all partners are bound by covered actions and final decisions.
(a) Representative. Each partnership* must designate, as the Secretary* requires, a partner* or other person with a substantial presence in the United States as partnership representative. The representative alone may act for the partnership under this subchapter. If no designation is in effect, the Secretary may choose any person as representative.
(b) Binding effect. The partnership and every partner are bound by (1) actions the partnership takes under this subchapter and (2) a final decision in a proceeding under this subchapter concerning the partnership.
Each partnership shall designate (in the manner prescribed by the Secretary*) a partner* (or other person) with a substantial presence in the United States as the partnership representative who shall have the sole authority to act on behalf of the partnership under this subchapter. In any case in which such a designation is not in effect, the Secretary may select any person as the partnership representative.
A partnership and all partners of such partnership shall be bound—
by actions taken under this subchapter by the partnership, and
by any final decision in a proceeding brought under this subchapter with respect to the partnership.
Source credit: (Added Pub. L. 114–74, title XI, § 1101(c)(1), Nov. 2, 2015, 129 Stat. 627.)
- 2015Enacted · Pub. L. 114-74 · 129 Stat. 627
A history note hasn’t been published yet. The record shows enactment by Pub. L. 114-74 on 2015-11-02.
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