Updated February 11, 2022
A Montana partnership agreement is a document that defines how a business operates under two or more parties. It normally establishes dispute resolution, dissolution, ownership interests, duration, and liabilities. The agreement must be exhaustive in order to prevent confusion in the future.
Partnership Types
- General Partnerships (GP) – Title 35, Chapter 10 (§§ 101-724)
- Limited Partnership (LP) – Title 35, Chapter 12 (§§ 101-1522)
- Limited Liability Partnership (LLP) – Title 35, Chapter 10 (§§ 701-724)
- Limited Liability Limited Partnership (LLLP) – § 35-12-1515
- Limited Liability Companies (LLC) – Title 35, Chapter 8 (§§ 101-1307)