Designated partner liability: responsibility for compliance acts and exposure to LLP penalties for statutory contraventions. Designated partners under the Limited Liability Partnership Act, 2008 must perform all acts and filings necessary for the LLP's statutory compliance as ... Summary
Designated partner liability: responsibility for compliance acts and exposure to LLP penalties for statutory contraventions.
Designated partners under the Limited Liability Partnership Act, 2008 must perform all acts and filings necessary for the LLP's statutory compliance as required by the Act and the LLP agreement, and are personally liable for penalties imposed on the LLP for contraventions of the Act unless otherwise expressly provided.
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