- 4 -
Seth R. Middlecamp -- .6680917 .6680917
Lisa Middlecamp-
Silky -- .6680917 .6680917
Wendy Thomas -- .6680917 .6680917
Alyson Middlecamp -- .6680917 .6680917
Total 1.2 98.8 100.0
C. The Partnership Agreement
Under the partnership agreement, the general partners have
exclusive authority to manage the operations and affairs of the
partnership and to make all decisions regarding its business,
including the distribution of cash. No partner can: (a)
Withdraw any part of her capital or receive any distributions
from the partnership except as provided for in the partnership
agreement; (b) demand or receive any assets other than cash in
return for her capital interest; or (c) be paid interest on any
capital contributed to or accumulated in the partnership.
Withdrawal of a general partner will cause dissolution of the
partnership unless there is at least one other general partner to
carry on the partnership’s business or unless all remaining
partners agree to continue the partnership and to appoint one or
more general partners.
In general, the limited partners have no rights to
participate in managing or controlling the partnership’s
business. A limited partner may assign his or her interest, but
such assignment will not dissolve the partnership or entitle the
assignee to become a partner or to exercise any rights as a
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Last modified: May 25, 2011