We have not address clearly partial withdrawals our by-laws
for our club. After seventeen years we have a couple
members who would like to make partial withdrawals, Can
some one help us with the wording to admend our by-laws.
And do you feel a fee should be charged.

"We have not address clearly partial withdrawals our by-laws
for our club. After seventeen years we have a couple
members who would like to make partial withdrawals, Can
some one help us with the wording to admend our by-laws.
And do you feel a fee should be charged."

Dear Sally Joe,

The bivio sample partnership agreement which you can find here:

https://www.bivio.com/site-help/bp/Partnership_Agreement

will give you some wording we suggest is appropriate for you to use to address the issue of partial withdrawals.

We do not recommend that fees be charged for withdrawals, especially partial withdrawals.


Laurie Frederiksen
Invest with your friends!
www.bivio.com

Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/bivio

Here is an excerpt from our ByLaws to address this:

Section 5. Special Withdrawals.The purpose of the Partnership is to invest
for the long-term; therefore, withdrawals of portions of a capital account
are discouraged. However, it is acknowledged that special needs may arise,
such as financial hardship or college expenses, in which withdrawals should
be allowed. Therefore any Partner may withdraw up to fifty percent (50%) of
their capital account, less expenses incurred to liquidate the assets, fees,
or delinquent dues, with the approval of two-thirds majority vote of the
Partners. These special fund withdrawals shall be limited to no more than
once every five years. Should the Partner withdraw from the club within 5
(five) years after receiving a special withdrawal, the withdrawal penalties
as outlined in Article 11 Section 2 that would have been incurred at the
time of the Special Withdrawal and to the amount of the Special Withdrawal
will be applied.

Jimmy
TLP Investment Club

-----Original Message-----
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Laurie
Frederiksen
Sent: Wednesday, March 07, 2012 8:13 AM
To: club_cafe@bivio.com
Subject: [club_cafe] Re: Partial Withdrawals

"We have not address clearly partial withdrawals our by-laws for our club.
After seventeen years we have a couple members who would like to make
partial withdrawals, Can some one help us with the wording to admend our
by-laws.
And do you feel a fee should be charged."

Dear Sally Joe,

The bivio sample partnership agreement which you can find here:

https://www.bivio.com/site-help/bp/Partnership_Agreement

will give you some wording we suggest is appropriate for you to use to
address the issue of partial withdrawals.

We do not recommend that fees be charged for withdrawals, especially
partial withdrawals.


Laurie Frederiksen
Invest with your friends!
www.bivio.com

Become our Facebook friend! www.facebook.com/bivio Follow us on twitter!
www.twitter.com/bivio