Partnership/LLC "Operating Rules"

[rchaney]

Greetings,

Have you been in a partnership that works...?
Do you have operating rules that you would be willing to share?
We need help!

My plane-partner and I have been searching to buy "Miss Right" for month and months... And we think we've found something. In about 13 days we may well have a gleaming new-to-us RV6 at our local field, in a hangar. Lots to do even on top of the final inspections and delivery of the plane itself.

One of the big jobs is our partnership agreement, specifically the Operating Rules of the partnership. We have a starting point with the boilerplate agreement rules provided by AOPA. We are wondering if you could send us the rules you've used in your partnership agreement(s) and a word about any additions or modifications you might make.

Is that something you might be able to do? If the operating rules section is not in digital form or can't be faxed, if it's buried under all the spare parts in your hangar or just non-existent... then of course it would be too hard/impossible to send. But if you can it would sure be GREAT, at this pivotal point in our excited-and-nutty next two weeks.

We would be happy to post a compendium of useful operating rules based on the collection we receive... so that it will benefit pilots in the future.

I hope this email finds you in good spirits and not on the ground for too many days in a row.

Sincerely and thankfully-in-advancefully,
Ralph Chaney

[PaulR]

Ralph,
Up until a couple of years ago, I owned a PA28 with a partner. AOPA has a really good partnership agreement on their site. That is what we used with just a little modification. I will tell you that I won't ever be part of that kind of arrangement again.

Good Luck