https://www.taxtmi.com/acts?id=10233 Cessation of partnership interest occurs by agreement or written resignation, or by death, dissolution, unsound mind, or insolvency. A former partner is treated as a partner in relation to third parties until notice is given or filed with the Registrar. Cessation does not discharge prior obligations. Unless the LLP agreement otherwise provides, the former partner or successor is entitled to the actual capital contribution and a share of accumulated profits net of accumulated losses as at cessation, but has no management rights. en-us Fri, 07 Nov 2008 16:01:18 +0530 Fri, 07 Nov 2008 16:01:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10233 Cessation of partnership interest occurs by agreement or written resignation, or by death, dissolution, unsound mind, or insolvency. A former partner is treated as a partner in relation to third parties until notice is given or filed with the Registrar. Cessation does not discharge prior obligations. Unless the LLP agreement otherwise provides, the former partner or successor is entitled to the actual capital contribution and a share of accumulated profits net of accumulated losses as at cessation, but has no management rights. Act-Rules Bills Fri, 07 Nov 2008 16:01:18 +0530 https://www.taxtmi.com/acts?id=10233