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Companies and Allied Matters Act 2020 · Part C

Section 746 Limited liability partnership to be body corporate

(1)
A limited liability partnership is a body corporate formed and incorporated under this Act and is a legal entity separate from the partners.
(2)
A limited liability partnership shall have perpetual succession.
(3)
Any change in the partners of a limited liability partnership does not affect the existence, rights or liabilities of the limited liability partnership.
Cite as: Companies and Allied Matters Act 2020, section 746

What this section means

From the Part overview: CAMA 2020 Part C: limited liability partnerships (sections 746 to 794)

  • It is a legal entity separate from its partners, has perpetual succession, and keeps its existence, rights and liabilities when partners change (section 746).

Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.