Section 3 of the Limited Liability Partnership Act, 2008 – Limited liability partnership to be body corporate

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Section 3: 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 that of its partners.
  • (2) A limited liability partnership shall have perpetual succession.
  • (3) Any change in the partners of a limited liability partnership shall not affect the existence, rights or liabilities of the limited liability partnership.

Source: official text of The Limited Liability Partnership Act, 2008 as published on India Code (PDF). All sections of the Limited Liability Partnership Act, 2008.

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