Llp meetings - only 2 members?
This query is : Resolved
16 January 2013
how to draft clause in meetings in new llp agreement with only 2 member-partners?
how can we write below line as only 2 partners, what if there is 2 views, how can there be any majority? :-
"All the matters in meeting shall be decided by a resolution passed by a majority.."
i know its only for general company law parlance, majority decides, but in 2 partners, how can we write this ?
i agree its little strange querry, but awaiting some reply ,
regards, mr.shah, www.nsc.in
how can we write below line as only 2 partners, what if there is 2 views, how can there be any majority? :-
"All the matters in meeting shall be decided by a resolution passed by a majority.."
i know its only for general company law parlance, majority decides, but in 2 partners, how can we write this ?
i agree its little strange querry, but awaiting some reply ,
regards, mr.shah, www.nsc.in
22 January 2013
The relevant clause may be drafted as follows:
"All the matters in meeting shall be decided by a resolution passed by majority of partners attending the meeting provided that as long as there are only two partners, all matters shall be decided only by mutual consent of the two partners."
This will take care of any future admission of partner as well who will also participate in decision making and in which case matters shall be decided by majority.
"All the matters in meeting shall be decided by a resolution passed by majority of partners attending the meeting provided that as long as there are only two partners, all matters shall be decided only by mutual consent of the two partners."
This will take care of any future admission of partner as well who will also participate in decision making and in which case matters shall be decided by majority.
Message likes :
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22 January 2013
thank you mr.goyal
regards, ca kunjan , www.nsc.in
regards, ca kunjan , www.nsc.in
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