Limited Liability Partnership Rule Amendments
At the Oct. 7 board meeting, the Benchers amended the Rules of the Law Society of Alberta regarding Limited Liability Partnerships (LLPs) to make them clearer. These Rules align with and enforce the Partnership Act, which says that only working members of certain professions regulated by Alberta laws—and those who can have a professional corporation—can register an LLP.
The amended Rules make it clear that LLPs can only be created by practising lawyers or their professional corporations. They also explain what information partners must give to prove their status (see Rules 159.4, 159.5 and 159.6). The Rules also detail information that must be provided to the Law Society within 30 days when an LLP makes changes (Rule 159.3).
In addition to these changes, there is a new Rule requiring LLPs to show proof that they are registered with the province when they are set up (Rule 159.8). The information required upon renewal has been reduced as information updates are now included in the new Rule regarding changes.
View the full Rules for more details.