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Thread: Partner

  1. Join Date
    Oct 2007
    Posts
    401

    Partner

    My business partner and I aren't exactly seeing eye to eye lately - and I believe that he has contacted our surety company in an attempt to be removed from the indemnity agreement; however, we are still 50/50 partners. Is this illegal?

  2. Join Date
    Oct 2007
    Posts
    558

    Wage & Welfare Bonds

    Quote Originally Posted by Bond Magician
    My business partner and I aren't exactly seeing eye to eye lately - and I believe that he has contacted our surety company in an attempt to be removed from the indemnity agreement; however, we are still 50/50 partners. Is this illegal?
    As long as he is a partner, Surety will not allow him to be removed from the indemnity agreement. If he does contact Surety, they will require proof that he is no longer an owner - like providing a copy of the resolution removing him as a partner.

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