A Montana partnership agreement records the interests, benefits, profit distribution, and liabilities applying to the business partners that sign it. These topics as well as the tax status of the company the Montana partners own should be fully discussed and agreed to before the execution of this agreement. Montana shall legally bind the partners to the provisions of this agreement provided its content complies with the law. For this reason, Montana business partners must be prepared to uphold their responsibilities and stay within their level of authority with the company as instructed by their agreement.
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State Defintion
35-10-102 Montana Code Annotated
(6) ”Partnership agreement” means an agreement, written or oral, among the partners concerning the partnership.
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