Hello,
I am in a partnership with three other individuals for a company we started 4 months ago, recently due to bad accounting practices on our 4th partners part we took a 3/4 vote (as that's all that required per our partnership agreement to pass something) and passed a change to switch our merchant account from our partners personal account to a 3rd party merchant account for transparency and accuracy. Our 4th partner was highly upset and had some legitimate concerns about the money not going into his personal account anymore. Its since become my understanding that in Utah it is illegal to co mingle funds for both personal and business use. Now our 4th partner has locked us out of our business, web servers and changed the billing back to his original merchant account. Our 4th partner has also violated the General Partnership agreement by going against the wishes of the other 3 partners without authorization. My question here is this, what can the other 3 partners do legally to stop this from happening?
I am in a partnership with three other individuals for a company we started 4 months ago, recently due to bad accounting practices on our 4th partners part we took a 3/4 vote (as that's all that required per our partnership agreement to pass something) and passed a change to switch our merchant account from our partners personal account to a 3rd party merchant account for transparency and accuracy. Our 4th partner was highly upset and had some legitimate concerns about the money not going into his personal account anymore. Its since become my understanding that in Utah it is illegal to co mingle funds for both personal and business use. Now our 4th partner has locked us out of our business, web servers and changed the billing back to his original merchant account. Our 4th partner has also violated the General Partnership agreement by going against the wishes of the other 3 partners without authorization. My question here is this, what can the other 3 partners do legally to stop this from happening?
