Your partnership agreement should speak to the issue of adding and removing
members. This area would state that a new member needs to: (insert whatever
criterion / initial payment - units - so forth).
The new member would need to sign the partnership agreement. I would have
them sign a rider and have it as an attachment to the original.
No agreement should be relative to only the original members, as there will
always be occasional turnover or succession issues.

As to your specific situation it appears you have a new member buying out an
old member? There is a way to make this transaction happen in Bivio.

Good luck fellow investors.

JM

-----Original Message-----
From: Jennifer Fillman [mailto:jfillman@bivio.com]
Sent: Wednesday, January 15, 2003 8:54 AM
To: club_cafe@bivio.com
Subject: club_cafe: Adding a partner


We are adding a new partner to our club for the first time.
We have everything handled from the financial side, but how
do we handle it from a legal perspective? Do we just need
to add her to the signature page on the partnership
agreement? Is it an amendment to the agreement? The
original agreement was between 10 partners. One left and
now we are bringing in a new partner to replace her.

Thanks for your advice!