A limited liability partnership shall appoint a designated partner within 30 days of a vacancy arising for any reason and the provisions of section 749 (4) shall apply in respect of such new designated partner : Provided that if no designated partner is appointed, or if at any time there is only one designated partner, each partner is deemed to be a designated partner.
Companies and Allied Matters Act 2020 · Part C
Section 751 Changes in designated partners
Cite as: Companies and Allied Matters Act 2020, section 751
What this section means
From the Part overview: CAMA 2020 Part C: limited liability partnerships (sections 746 to 794)
- A vacancy must be filled within 30 days, and until it is, each partner is deemed a designated partner (section 751).
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.