New Member Requirements
Being a member of an investment club is a long term commitment. You want to make sure that anyone new whom you admit really understands what they are getting into. You also want to make sure that this is someone you want to have a long term, financial relationship with.
This section spells out some rules you might use to ensure those things.
Note that there is a requirement both here and in the partnership agreement that a new member be admitted by a unanimous vote. You will find that this is a very important requirement. You will be conducting a business with this new person. You want to make sure everyone agrees they are a good fit for your group.
Disclaimer: statements are opinions expressed by bivio Customer Support and are not official statements from any government agency. These statements are not intended to replace professional legal or accounting advice. When in doubt, follow the advice of your lawyer or accountant who is familiar with your particular circumstances and the laws of your state.