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No. Modification of LLP Deed requires signature of all Partners (Designated and otherwise). This is done to protect the interest of all the Partners. In an LLP, LLP deed is the most important document and it establishes the contribution from partners, objective of the business, profit sharing method, conditions for addition and e...
Wazzeer Professional Network
ProfessionalIn an LLP of two designated partners, can a single partner change the LLP agreement by signing all the documents required?
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Wazzeer Professional Network
ProfessionalNo. Modification of LLP Deed requires signature of all Partners (Designated and otherwise). This is done to protect the interest of all the Partners. In an LLP, LLP deed is the most important document and it establishes the contribution from partners, objective of the business, profit sharing method, conditions for addition and exit of partners etc.
In short, LLP deed is the constitution of an LLP. Hence, any changes to the LLP deed will affect the whole business of the LLP. So to make sure this is an informed decision where all the partners are on board, any changes to LLP Deed requires signature of all partners.
over 2 years ago
View answer
In an LLP of two designated partners, can a single partner change the LLP agreement by signing all the documents required?
-
Wazzeer Professional Network
ProfessionalNo. Modification of LLP Deed requires signature of all Partners (Designated and otherwise). This is done to protect the interest of all the Partners. In an LLP, LLP deed is the most important document and it establishes the contribution from partners, objective of the business, profit sharing method, conditions for addition and exit of partners etc.
In short, LLP deed is the constitution of an LLP. Hence, any changes to the LLP deed will affect the whole business of the LLP. So to make sure this is an informed decision where all the partners are on board, any changes to LLP Deed requires signature of all partners.
over 2 years ago
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