TMEP 611.06(h): Signature by Limited Liability Partnership

This is the October 2015 Edition of the TMEP

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611.06(h)    Signature by Limited Liability Partnership

A limited liability partnership (“LLP”) has attributes of both a partnership and a corporation. See TMEP §803.03(k). Laws vary to some extent as to the authority conferred on various partners associated with the limited liability partnership. Generally, all partners are recognized as having general agency authority to bind the partnership in the ordinary course of business. Therefore, anyone identified as a partner may sign.

Many states provide for the filing of a Statement of Partnership Authority which specifically names partners having authority and/or limits the authority of certain individuals. If an individual who is not a named partner of the LLP has been recognized as having authority to bind the LLP, that person may sign, and must indicate his or her position as an individual designated in the LLP’s Statement of Partnership Authority.