Involved in plasma membrane dynamics and cell process formation. Necessary for axonal and dendritic filopodia induction, for dendritic spine maturation and synapse formation in a palmitoylation-dependent manner (By similarity). Interacts with dopamine receptor DRD3. Translocation to the plasma membrane is enhanced upon stimulation of neuronal activity. Expressed in neurons cells of neuropil-rich areas of the brain, in the Purkinje cells of the cerebellum, in cells of the cerebral cortex, hippocampus, brainstem nuclei and glial processes and sheaths. Expressed in the medulla of the adrenal chromaffin cells and renal duct cells (at protein level). Expressed in pyramidal neurons of the hippocampus at 18 dpc. Belongs to the paralemmin family.