If the written agreement of the partners holding the majority of the company`s capital establishes that their capital is not sufficient to carry out their operations or that it is currently insufficient, these partners may request additional capital injections by written notification to all the members. These contributions must be paid in cash no later than the date indicated in the notification or no earlier than thirty days after termination. Each member shall be liable to the company for his share in the total contributions duly required under this paragraph. If you intend to run a New Zealand business, it is important to identify the most appropriate and effective legal relationship for you and all your business colleagues. There are a number of different ways to structure this relationship, and different laws govern different relationships (see related article How to Structure Your Business). This form has been prepared for general information purposes only. They do not constitute legal advice, advertisements, invitations or tax advice. The transmission of this form and the information it contains is not intended to establish a mandate relationship and its receipt does not constitute a justification for a mandate relationship. This website contains tips, tools and information that will help you every step of the way in an employer. You need to discuss how the business is run. Many companies choose a partner as their manager.
Some use a voting system in which each partner has a say. There are several systems that you can use. The participation rate is proportional when the weight of a partner`s voice is linked to its capital contribution. In proportion to profit-sharing, voting power is based on the distribution of the share of profits. The same voice means that every voice counts in the same way. Many partnerships include prohibitions on confidentiality, debauchery and non-competition….