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Are Partnership Agreements Required In The State Of New York?

They are not "required," but certainly are recommended. However, if you are a member of a New York LLC, then you must have a written member operating agreement. Your partnership agreement should address issues such as voting rights, day-to-day managerial decisions, compensation, buyout rights, what happens in the event of the death or disability of a partner and how partnership disputes may be resolved.

Charles Internicola

by Charles Internicola
National Business and Franchise Lawyer

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