Designated partner appointment requirement - vacancy must be filled promptly; otherwise all partners are deemed designated. When a vacancy among designated partners arises a limited liability partnership must appoint a new designated partner within thirty days and the procedural and qualification provisions applicable to designated partners apply to that appointee; if no designated partner is appointed, or if at any time there is only one designated partner, every partner is deemed to be a designated partner for the purposes of the Act.
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 requirement - vacancy must be filled promptly; otherwise all partners are deemed designated.
When a vacancy among designated partners arises a limited liability partnership must appoint a new designated partner within thirty days and the procedural and qualification provisions applicable to designated partners apply to that appointee; if no designated partner is appointed, or if at any time there is only one designated partner, every partner is deemed to be a designated partner for the purposes of the Act.
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