Commentary

60 Default provisions applying to limited liability partnerships

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

60 Default provisions applying to limited liability partnerships

| Commentary

60 Default provisions applying to limited liability partnerships

Subject to any exception contained in the Limited Liability Partnerships Act 2000 or any other enactment, the mutual rights and duties of the members of a limited liability partnership (LLP), together with the mutual rights and duties of an LLP and its members, will usually be governed by some agreement entered into by the members or by the LLP and its members1. In the absence of such an agreement, the rights and duties in any particular situation will be governed by default provisions contained in regulations made under the Limited Liability Partnerships

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