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Companies and Allied Matters Act 2020 · Part C

Section 770 Form of contribution

(1)
A partner’s contribution may consist of tangible, intangible, movable, immovable or property or other benefit to the limited liability partnership, including money, promissory notes, other agreements to contribute cash or property, and contracts for services performed or to be performed.
(2)
The monetary value of contribution of each partner shall be accounted for and disclosed in the accounts of the limited liability partnership in the manner as may be prescribed.
Cite as: Companies and Allied Matters Act 2020, section 770

What this section means

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

Part C creates the limited liability partnership. Here is how one is formed, who runs it, who is liable for what, and what it must file.

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.