jrannis said:
It sounds like you are in good shape.
Texas might have different procedures than what I an familiar with.
I agree that if you only qualifiy the company as a master then it's easy to get out of the business.
Here in Georgia all that's needed is a letter to the Secretary of State and I think one to the company and they have about 10 business days to find another master or they are out of business.
Getting out of a partnership can be more complicated. Any supply house accounts, any local and federal taxes, any bank accounts. Anything having to do with your credit. It's much like getting a divorce. You want to make sure that they can't use your name or your credit ever again ( for anything).
If I were Mr. Lindenborn I would even stop calling this a verbal partnership and start saying I was the qualifing master for the company. If the company was a sole proprietorship then it's a good idea to refer to it as such in any written communications.
For people that think it's a joke you never want to introduce a woman as your wife if she is not and you don't want to sign into any hotels or motels as husband and wife if you are not. Verbal acknowledgement of a relationship can be binding.
It's just a good idea not to tell everyone that you are a partner in a business if you are not a partner. Someone may get the wrong idea.
Edit: Never admit it anything with any sort of liability attachments. Many people have went to the gallows based on their own testimony.
