Resolution
Resolution — Resignation or Retirement of a Partner
A draft partners' resolution recording a partner's resignation or retirement, the settlement of their capital, and the revised profit-sharing ratio.
Starting point, not legal advice. Fill in the [bracketed] details, then have it reviewed before anyone signs.
RESOLUTION OF THE PARTNERS OF [LLP NAME] LLP
LLPIN: [LLPIN] | Registered Office: [Registered Office Address]
Date: [Date] Venue: [Venue]
The following resolution was passed by the partners:
- RESOLVED THAT the resignation/retirement of [Outgoing Partner Name] as a partner of the LLP, with effect from [Date], is hereby noted and accepted.
- RESOLVED FURTHER THAT the outgoing partner's capital contribution of ₹[Amount] and their share of accumulated profits up to the date of exit, amounting to ₹[Amount], be settled and paid within [30/60] days of this resolution.
- RESOLVED FURTHER THAT the profit-sharing ratio among the remaining partners stands revised as follows: [Partner A] — [%], [Partner B] — [%].
- RESOLVED FURTHER THAT any designated partner be and is hereby authorised to file Form 4 with the Registrar of Companies, and to sign all documents necessary to give effect to this resolution.
Certified true copy.
[Partner Name] — Designated Partner — Signature: _______________