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Members’ Agreement – 3 or more members

Members’ Agreement – 3 or more members

stars Over 10,000 Happy South African Businesses

Original price was: R 1 536,89.Current price is: R 1 075,82.

Legal document outlining terms among 3 or more members of a company, including management.

  • Defines each member’s role.
  • Protects each member’s rights.
  • Sets expectations for contributions.
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How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

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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MEMBERS’ AGREEMENT

3 or more 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 all 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 three or more members, an Association Agreement can be considered between the members. A written Members’ Agreement, amongst other things, can be useful in setting 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 2 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 template document can be printed onto nine pages.

What do you need to do to use the agreement?

  • Read the template Members’ Agreement to ensure that it suits your requirements. Complete the requisite sections, making changes as required.
  • Ensure that all 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

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.

How do I receive my documents once I have paid for them?

Once your order is complete, you will be granted download permission for the document. You will:

  • See download links on the order received page after you have checked out.
  • Receive an email notification which will include download links.
  • Have access to your downloads via the Downloads tab on your ‘My Account’ page when logged in to your account on this website.
What format do you provide the document in?

You’ll receive the document in Microsoft Word. A small number of our documents are only available in PDF, in which case this is stated in the document summary.

What if I don't receive the link?

The two most common reasons for people not receiving the link are : (i) The e-mail address entered into the order form was incorrect; or (ii) the e-mail was directed into your spam folder. First please check your spam folder. If it is not there, contact us.

How can I tell if the document is suitable for my requirements?

Each document is accompanied by a description. Read the description to see if it will meet your requirements. If you are still uncertain, you can Contact Us with a brief overview of what you need the document for and we will respond as soon as possible.

Can I make changes to the contracts and legal documents?

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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MEMBERS’ AGREEMENT

3 or more 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 all 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 three or more members, an Association Agreement can be considered between the members. A written Members’ Agreement, amongst other things, can be useful in setting 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 2 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 template document can be printed onto nine pages.

What do you need to do to use the agreement?

  • Read the template Members’ Agreement to ensure that it suits your requirements. Complete the requisite sections, making changes as required.
  • Ensure that all 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

The Online Agreements Shop cc and its members, staff, legal advisers, partners and consultants, agents and any person associated therewith cannot be held liable for any loss or damage that is incurred or may be incurred by any person as a direct or indirect result of the use of this website or any document or information contained on or obtained from this website, nor as a result of anything that is contained in or left out of any document.