Partner eligibility in limited liability partnerships: incapacity or unresolved insolvency bars an individual from becoming a partner. Any individual or body corporate may be a partner in a limited liability partnership, except that an individual is disqualified if found to be of unsound mind by a competent court while the finding is in force, if he is an undischarged insolvent, or if he has applied for adjudication as an insolvent and that application is pending.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Partner eligibility in limited liability partnerships: incapacity or unresolved insolvency bars an individual from becoming a partner.
Any individual or body corporate may be a partner in a limited liability partnership, except that an individual is disqualified if found to be of unsound mind by a competent court while the finding is in force, if he is an undischarged insolvent, or if he has applied for adjudication as an insolvent and that application is pending.
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