Option of Retire Expelled Partner

OPTION TO RETIRE EXPELLED PARTNER

 

If any partner is to be expelled from the partnership and that partner holds at least _____ percent of the interest in the partnership, said partner has the right to retire from the partnership as stipulated in Section ________ of the Partnership Agreement, providing that partner also meets the age and service requirements in that section. In addition, this partner must not have been expelled because of any dishonest actions on his part.

 

_________________________ _________________

Partner Signature Date

_________________________ _________________

Partner Signature Date

 

 

Warning:

These forms are provided AS IS. They may not be any good. Even if they are good in one jurisdiction, they may not work in another. And the facts of your situation may make these forms inappropriate for you. They are for informational purposes only, and you should consult an attorney before using them.

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