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LHARC1.EXE
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1330.BLD
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1993-01-06
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#1330
@001 Enter the name of the partnership:
@990 Enter the state where partnership is formed:
@991 Enter the county where partnership is formed:
@002 Enter the names of the partners:
@130 Enter the type of business for the partnership:
@132 Enter the address of principal office of the partnership:
@133 Enter the date of beginning business:
!134 Enter the initial capital of the partnership:
@135 Enter the amount of capital contributed by each person:
@437/@437/@437/@437 Enter the time period for accountings:
Monthly
Quarterly
Yearly
Key In Value
#1331 Will the partners be allowed to make draws?
#if#1331
@136 Enter limits on withdrawals:
@137/@137/@137/@137 The withdrawals will be made:
Weekly
Monthly
Quarterly
KEY IN VALUE
#endif
#1332
#end control section
#1330
/* Para. 1330: Short form of general partnership */
GENERAL PARTNERSHIP AGREEMENT OF THE
@001 PARTNERSHIP
STATE OF @990)
COUNTY OF @991)
@002, herewith agree to engage in the business of @130, and
pursuant to the Uniform Partnership Act of the State of @990,
hereby form a general partnership.
The name of the partnership shall be the @001 partnership. The
principal office of the partnership will be located at:
@132
and additional or substitute offices may be agreed upon from time
to time by the parties.
The partnership's existence shall commence on @133 and it shall
continue until dissolved either by mutual agreement or by
operation of law.
The initial partnership capital shall be $ @134 (!134 dollars).
The partners will contribute as follows:
@135
The partners shall share in profits and losses in the same
proportion as their capital contributions. No interest shall be
paid on capital contributions. No partner shall have the right to
demand repayment of their capital contribution unless the same is
through a dissolution of the partnership and a winding up of its
affairs.
Decisions by the partnership shall be made by majority vote.
Books of account of the transactions of the partnership shall be
kept at the principal place of business of the partnership. The
books of account of the partnership shall be available for
inspection by all times by the partners. Each partner shall be
required to report all transactions related to partnership
business promptly and accurately.
Each @437 the partners shall determine the net profit and loss of
the partnership and the same shall be divided in the same
proportion as contributions to capital. The partners, may by
majority vote, agree to distribute any surplus or may allocate
surplus to the capital account of each partner.
#1331
/* Para. 1331: Withdrawals */
The partners shall be entitled to withdraw the following sums
from the partnership:
@136
on a @137 basis.
Any and all withdrawals made shall be deducted from any profits
of the partnership.
#1332
/* Para. 1332: Governance, closing */
The affairs of the partnership shall determined by majority vote,
with votes cast in the same percentage as capital contributions.
Each partner shall have the right to manage the affairs of the
partnership in the ordinary course of the partnership's business.
However, no partner shall have the authority to:
a) confess judgment against the partnership;
b) borrow on the credit of the partnership or guarantee the debts
of others with partnership credit except for minor transactions
under $ 500.00 for regular operating expenses of the partnership;
c) convey substantially all of the partnership assets
without prior approval by majority vote.
This partnership shall terminate upon the death, bankruptcy or
incompetency of any partner. Thereupon the remaining partners
shall act as trustees for the partners and shall promptly wind up
the affairs of the partnership.
Dated: _____________________________, 19______
__________________________________________________
@002
Witnesses:
__________________________________________________
__________________________________________________