My Account Login
 
LLp Online

09555533766 10am to 8pm (IST)
+91.11 40622239 Mon - Sat
HomeOrder Your LLPLLP ClubAbout UsOur ServicesContact Us
 


 

Ask the Expert

Home / Legal Sphere Acts / Chapter VIII - Assignment and Transfer of Partnership Rights

Chapter VIII - Assignment and Transfer of Partnership Rights

Change Chapter

Summary
  • The rights of a partner to a share of the profits and losses of the limited liability partnership are transferable either wholly or in part.
  • Transfer does not entitle the partner to participate in the management or the conduct of the activities of the LLP.

Partner’s transferable interest.
 

42. (1) The rights of a partner to a share of the profits and losses of the limited liability partnership and to receive distributions in accordance with the limited liability partnership agreement are transferable either wholly or in part.

(2) The transfer of any right by any partner pursuant to sub-section (1) does not by itself cause the disassociation of the partner or a dissolution and winding up of the limited liability partnership.

(3) The transfer of right pursuant to this section does not, by itself, entitle the transferee or assignee to participate in the management or conduct of the activities of the limited liability partnership, or access information concerning the transactions of the limited liability partnership .

  Our Ventures   LLPonline.in   Quick Links    Take Action    Communique
  Takeovercode
Delisting
Startbizindia
ESOPOnline ESOPOnline
About us
Media Centre
Contact us
Disclaimer
Privacy Policy
Sitemap
Order Your LLP
Convert into LLP
Form your LLP
Draft LLP Agreement
Benefits of LLP
LLP Act 2008
Compare LLP
FAQ's
Forward to a Friend
Rapid Responder : Register | Login
Print this Page
Save this page
Add to Favourites
Make this Page your Home Page
Feedback

TwitterFacebookLinkedin
Corporate Professional

  Copyright 2010, www.llponline.in. ALL RIGHTS RESERVED. Website Design by Dreamzsop