According to article 293 of the revised OHADA Law of 2014, the limited liability partnership is a partnership in which one or more partners jointly and severally liable for the company debts, referred to as “general partners”, coexist with one or more partners liable for the company debts up to the limit of their contributions referred to as “limited partners” or “limited liability partners”, and whose capital is divided into partnership interests.
The annual general meeting of a limited liability partnership shall be held annually, within six (6) months of the close of the fiscal year, a general annual meeting during which the management report, the inventory, and the summary financial statements prepared by managers are submitted for approval to the meeting of the partners.
To this end, documents referred to in the preceding paragraph, the draft resolutions as well as, where applicable, the report of the auditor, shall be sent to partners at least fifteen (15) days before the meeting. Any decision taken in violation of the provisions of this paragraph shall be null.
The annual general meeting may not be validly held unless a majority of partners representing at least half of the stated capital are present. Any decision taken in violation of this paragraph shall be null.
The meeting shall be chaired by the member representing by himself or as a proxy the greatest number of partnership interests.