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In applying the term "association" as used in section 7701 (a) (3), Mr.
Thies argues that we can find guidance in a "largely overlooked" cranny of
the law: the "common law association." Asserting that this form of
organization was characterized by centralized management and continuity
of life, but not by limited liability or transferability of interests, Mr. Thies
concludes that the first two characteristics alone are the only proper criteria
of association status. The test, in other words, is whether the organization
under examination resembles a "classic common law association," not
whether it resembles a corporation; and this in turn means that centralizccl
management and continuity of life are sufficient (and, evidently, necessary)
to confer association status under section 7701(a) (3). Mr. Thies then asserts
that "virtually all" new-style professional association and corporation
statutes satisfy these criteria.

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