Partnership Partner Names Considerations
Your partnership agreement is an agreement between the people listed on the signature page to conduct the business of the group in a specific manner. If this list changes, legally, the partnership is dissolved and a new partnership is formed which requires a new agreement between the new partners. You need to make sure old partners are removed from the agreement and new partners are added.
There is no specified procedure required to handle changes in your partnership agreement when membership changes. The overriding factor is that there should be documentation in your club records along with your agreement that:
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.