Adding Incapacitated clause to bylaws/partner agreement
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Adding Incapacitated clause to bylaws/partner agreement Our club would like to add a clause to our bylaws/partnership agreement to state that in the event a member becomes incapacitated we would liquidate her account and release it to her financial POA. Does Bivio have a sample clause to that effect? Thanks for all your help. Linda Palmer Risky Business Investment Club Linda, we simply lump this together with the death condition: In the event of death, or physical incapacity, or if a Partner is unable to participate actively in the Partnership for reasons to be approved by a two-thirds vote of all the Partners, one hundred percent (100%) of the Partner’s capital account…
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of
Linda Palmer via bivio.com
CAUTION: External Email Our club would like to add a clause to our bylaws/partnership agreement to state that in the event a member becomes incapacitated we would liquidate her account and release it to her financial POA. Does Bivio have a sample clause to that effect? Thanks for all your help. Linda Palmer Risky Business Investment Club Our club has a clause that simply says if you're not actively participating, making a minimum number of meetings and investing regularly, you can be voted right out of the club. We had one member who just stopped showing up and after close to a year, I stopped by her house and handed her a $14,000 check! Lee Weygandt Market Miners Investment Club, Findlay, Ohio On 1/10/2023 3:38 PM, Linda Palmer via bivio.com wrote: > Our club would like to add a clause to our bylaws/partnership > agreement to state that in the event a member becomes incapacitated we > would liquidate her account and release it to her financial POA. Does > Bivio have a sample clause to that effect? > > Thanks for all your help. > > Linda Palmer > Risky Business Investment Club |
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