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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3652
Experience:  Solicitors 2 years plus PQE
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I have a question regarding limited liability partnerships.

Resolved Question:

I have a question regarding limited liability partnerships. Does each member have equal voting rights and can I set the llp to have voting rights related to member status or capital introduction?
Submitted: 10 months ago.
Category: Law
Expert:  Alex J. replied 10 months ago.

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. LLPs do not have resolutions like limited companies - if you do not have any document detailing voting rights, then the partners will have to agree things mutually - depending on what you are voting for. You are however free to create a partnership deed that details how you vote on certain matters for example raising capital, borrowing money, distributing profits etc? The voting can be agreed to be weighted relative to capital owned in the LLP.

Customer: replied 10 months ago.
Can it be based on whether they are a designated member ?
Expert:  Alex J. replied 10 months ago.

Hi, Thank you. Yes you can restrict items that on designated members can vote on.

Customer: replied 10 months ago.
Hi Alex, but can I say in the partnership agreement that only designated members can vote and that that vote is based on the amount of cash or cash equivalent that the designated member introduces ?
Expert:  Alex J. replied 10 months ago.

Hi, Thank you. Yes you can create a partnership deed that has this administrative structure. All the partners would have to sign it though in order for it to be valid and binding.

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