DIY Legal Forms

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Partner Authority Limitations

The extension of authority to use partnership assets for purchase of materials and/or property intended for the firm may not exceed transactions of $------. In these cases, the firm must write an agreement that is satisfactory to the remaining partners, consent must be given in this written agreement. Any partner transgressing this stipulation, will be held personally accountable for the specified amount.

Dated:

____________________________

Signature and Title

____________________________

Signature and Title

____________________________

Signature and Title

*** If Required By State Law ***

This Section for Notary:

Acknowledgment

State of _________

County of ________ [County]

On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

Witness my hand and official seal.

Signature ________
Notary

My commission expires: _____

(Seal)