The members of an LLP

Any group of two or more people who want to set up a profit-making business together
can form a limited liability partnership (LLP), unless one of them has a disqualification
order (disqualified to act as a company director or LLP member) in place. It is also
possible for companies, and other LLPs, to be members of an LLP.

How many members should an LLP have?

A LLP must have at least two members, and at least two must be 'designated'
members. If there are fewer than two designated members then every member is
deemed to be a designated member.

The rights and responsibilities of LLP members

The members of an LLP normally share in both the responsibilities of running the
business and the profits that it makes. Exactly how their rights and responsibilities are
defined and divided depends on the LLP's partnership agreement or 'deed of
partnership'. Designated members have some extra responsibilities on top of those of
ordinary members

Any individual may be a partner in LLP provided that individual shall not be capable of
becoming a partner of a limited partnership if—

a) He has been found to be unsound mind by a court of competent jurisdiction the

finding is in force.
b) He is an undischarged insolvent
c) He has applied to be adjudicated as an insolvent and his application

d) Every person having the capacity to contract according to the law of the land can be a member
of LLP. The capacity may be natural or legal. No minor or a simple partnership firm or any entity
which is not a body corporate can be a partner in a LLP.