The Oklahoma partnership agreement can be utilized by individuals and formally organized entities that wish to combine their efforts in forming and operating a business. This requires an official declaration of their partnership’s entity tax status, the power structure of their business, and the policies it shall exist under.
Before executing their decisions, the Oklahoma partners must bring their knowledge and capabilities to negotiate the provisions they wish to include in the contract. When ready, each Oklahoma partner should sign and notarize their agreement and comply with its contents during its term of effect.
“(7) “Partnership agreement” means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement; and a partnership agreement binds a partner of a partnership or a transferee of an economic interest regardless of whether the partner or transferee executes the partnership agreement.”