https://www.taxtmi.com/acts?id=10291 Default statutory provisions govern partners' mutual rights and duties where no agreement exists: equal sharing of capital, profits and losses; participation in management without remuneration; LLP indemnity for liabilities incurred in ordinary business or preservation of assets; partner indemnity to LLP for fraudulent loss; unanimous consent required for admission of new partners and for changing the nature of the business; majority voting for ordinary matters with minutes maintained; duty to account for competitive or unauthorised benefits; and arbitration for unresolved disputes. en-us Fri, 07 Nov 2008 16:26:29 +0530 Fri, 07 Nov 2008 17:16:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10291 Default statutory provisions govern partners' mutual rights and duties where no agreement exists: equal sharing of capital, profits and losses; participation in management without remuneration; LLP indemnity for liabilities incurred in ordinary business or preservation of assets; partner indemnity to LLP for fraudulent loss; unanimous consent required for admission of new partners and for changing the nature of the business; majority voting for ordinary matters with minutes maintained; duty to account for competitive or unauthorised benefits; and arbitration for unresolved disputes. Act-Rules Bills Fri, 07 Nov 2008 16:26:29 +0530 https://www.taxtmi.com/acts?id=10291