Section 5
Partners.
The Limited Liability Partnership Act, 2008
About this Act
An Act to make provisions for the formation and regulation of limited liability partnerships and for matters connected therewith or incidental thereto.
Any individual or body corporate may be a partner in a limited liability partnership:
Provided that an individual shall not be capable of becoming a partner of a limited liability partnership, if--
(a) he has been found to be of unsound mind by a Court of competent jurisdiction and the finding is in force;
(b) he is an undischarged insolvent; or
(c) he has applied to be adjudicated as an insolvent and his application is pending.
Provided that an individual shall not be capable of becoming a partner of a limited liability partnership, if--
(a) he has been found to be of unsound mind by a Court of competent jurisdiction and the finding is in force;
(b) he is an undischarged insolvent; or
(c) he has applied to be adjudicated as an insolvent and his application is pending.