Commentary

59 Membership of a limited liability partnership

BUSINESSES vol 4(2) start-up, sale and purchase
| Commentary

59 Membership of a limited liability partnership

| Commentary

59 Membership of a limited liability partnership

On the incorporation of a limited liability partnership (LLP), the subscribers to the incorporation document are deemed to be its members, apart from those who have died or been dissolved1. New members may join the LLP by agreement with the existing members2. There are various ways in which a person may cease to be a member of an LLP. Clearly this will occur if the LLP is dissolved or if the relevant member dies. In addition, a member may leave the LLP in accordance with any agreement with the

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