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Partnerships > LLP > Flashcards

LLP Flashcards

1
Q

RUPA

A

Partners are not personally liable

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2
Q

Formation

A

change from partnership to LLP- approved by whatever vote is necessary to amend partnership agreement. If silent- all partners must consent

Filing- statement of qualification - must contain 2 partners, name, electing to become an LLP, deferred effective date

NOT PERSONALLY LIABLE FOR TORT UNLESS ENGAGED IN TORT

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Partnerships (7 decks)

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