What is the different between the Partnership Agreement and
the club BY Laws. Do members have to sign the BY Law if
it's different from the Partnership.

Wesley Taylor, Jr. wrote:
> What is the different between the Partnership Agreement and
> the club BY Laws. Do members have to sign the BY Law if
> it's different from the Partnership.

The Partnership Agreement is like a constitution that you
find in a book such as NAIC's "Starting and Running a
Profitable Investment Club". This is a legal document that
can be used in court should there be any serious
conflicts(hope it never happens.)

The by-laws as I have learned as the first President of my
club consist of rules to keep things in order. It is like a
verbal agreement written down on paper. Some examples - we
fine a partner $5 for skipping a meeting without informing
the club ahead of time. We also dole out $5 penalties for
missing the monthly contributions by a deadline without
prior arrangements. The penalties go into our general funds
to help purchase supplies such as software.

Hope it answers your question.