Indiana partnership agreements must embody the rules that partners intend to comply with when managing their company. Such standards should only be applied when the Indiana business partners have finished negotiating topics like the powers, contributions, and protections extended to each.
The provisions must also detail the partnership’s adherence to the law, tax regulations, and market rules so that the agreement can display signature confirmation of each partner’s acknowledgment. For this reason, the partners must include as much as possible regarding the business so that no question will be left as to each one’s role. Every partner of the Indiana business should retain a signed original of their contract for their records and future reference.
Sec. 11. “Partnership agreement” means a written agreement of the partners as to the affairs of a limited partnership and the conduct of its business.