Designated partner appointment obligation ensures prompt replacement after vacancy and deems all partners designated if none appointed. A limited liability partnership must promptly appoint a new designated partner following a vacancy and the provisions governing designated partners under the earlier applicable provisions apply to that appointee; if no appointment is made or only one designated partner exists, all partners are deemed to be designated partners to preserve statutory responsibilities and compliance.
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.
Designated partner appointment obligation ensures prompt replacement after vacancy and deems all partners designated if none appointed.
A limited liability partnership must promptly appoint a new designated partner following a vacancy and the provisions governing designated partners under the earlier applicable provisions apply to that appointee; if no appointment is made or only one designated partner exists, all partners are deemed to be designated partners to preserve statutory responsibilities and compliance.
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