Process of Retirement under LLP
How is retirement dealt with in an LLP?
- 679 Views
- 1 Answer
An LLP agreement will usually provide that a member wishing to leave gives e.g. 6 or 12 months’ notice. He or she then has the right to receive undrawn profits and the credit balance on his/her capital account. This can destabilise the LLP, but to avoid this you can have a repayment by instalments e.g. 10 years.
Ask Your Legal Question NowAsk a Query
Tags: Company Incorporation Legal Structuring