Changes in Management of LLP

Changes in management of LLP take place in the form of addition /deletion of designated partners. Limited Liability Partnership governs by its Limited Liability Partnership Agreement. In case the Agreement is silent about change in management then it follows the provisions of LLP Act, 2008.

Addition of Partners

Any person eligible to become partner as per the provisions of LLP Act, 2008 can be admitted as partner in LLP as per the provisions of the LLP agreement. The incoming partner has to see that he is not disqualified to become a partner as per the provisions of LLP Act, 2008.

Resignation of Partners

A person may cease to be a partner in accordance with the agreement or in the absence of agreement, by giving 30 days’ notice to the other partners.