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Members’ Agreement – 2 members
Members’ Agreement – 2 members
Was R 1 536,89, Now R 1 075,82, Save R 461,07
Original price was: R 1 536,89.R 1 075,82Current price is: R 1 075,82.
Legal document outlining terms between 2 members of a company, including management.
- Defines each member’s role.
- Avoids misunderstandings and disputes.
- Helps ensure long-term success.
MEMBERS’ AGREEMENT
2 Members
Summary A Members’ Agreement (also known as an Association Agreement) may be considered for the mutual protection of members in a Close Corporation, and serves to establish both the members’ respective rights and their obligations in relation to each other.
Why do I need a Members’ Agreement? If your business is a Close Corporation with two members, a written contract can be considered between the members. An Association Agreement, amongst other things, sets out the procedure to be followed if a member wishes to sell his/her members interest, if there is a deadlock in the decision-making, if a member is sequestrated or commits a breach, and policies regarding loan accounts.
See also: Members’ Agreement for 3 or more members
What does the Agreement say? This template Association Agreement consists of: Interpretation; Introduction; Incorporation of Corporation; Members’ Meetings; Matters requiring unanimous agreement; Financing of the Corporation; Management of the Corporation; Valuation; Life Insurance; Transfer of Members Interest; Forced Sales; Disputes; Addresses and Notices; Good Faith; Confidentiality; General.
What does the Agreement look like? The agreement can be printed onto eight pages.
What do you need to do to use the Agreement?
- Read the sample terms of association to ensure that they suit your requirements. Complete the requisite sections, making changes as required.
- Ensure that both the members sign the Association Agreement with each member getting a copy of the final, signed document.
Also viewed: Sale of Member’s Interest Agreement
Also known as: Association Agreement; Terms of Association; Close Corporation Agreement
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Our documents are provided in MS Word format, allowing you to adjust and alter the agreement as you require. If you do not have legal experience we do caution you to be circumspect about the extent of the changes that you make.
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