Before we go on, let me apologize for not respecting to my promise yesterday. I was supposed to write about management of partnership in Cameroon as promised in my previous post, starting a general partnership in Cameroon.
You may have noticed that this website was down yesterday for about an hour. Our reseller hosting account was suspended because of an attack on one of our client’s website. It affected our host’s server and so we got suspended. We had to work on scanning clients’ sites to make sure everything is fine.
If you are interested in starting your own web hosting business, you can get a reseller plan with EUKHOST. They are one of the most reliable on the web with excellent support and customer service. Why not give it a try?
Let’s go back to what I promised you yesterday – management of partnership in Cameroon.
The management of a partnership can be done by all partners since they have equal rights when it comes to managing the business. Partners, especially in a general partnership, have equal authority to take part in the management of the business, except otherwise stated in the agreement.
In Cameroon, the management of the company is organized in the articles of association. The partnership may choose to appoint the following as manager:
However, in the case where the management of the partnership is not stated or organized in the articles of association, all partners are considered to be managers.
When it comes to voting a decision, each partner has one equal vote except where the investment capital is not the same. In such a situation, the vote is considered by majority in number and in capital of the other partner(s). The vote is therefore weighted in line with the capital contribution of each partner.
Decisions taken by one partner is binding to all partners so as their liability. The management may also decide on who to appoint or designate a management committee with specific duties or responsibilities to carry out the day-to-day operations.
Decisions that exceed the powers of the manager or management committee shall be taken unanimously by the partners or put to a vote if the articles of association provides for that. Collective decisions are taken in a general meeting called by the manager or any other partner.
Invitations for a general meeting should be sent at least 15 (fifteen) days before the day of the meeting. This should be hand-delivered, through registered mail, fax or electronic mail. There should be a receipt or acknowledgement of receipt in the case of a hand-delivered letter or registered mail.
Also, notice for a meeting must carry the date, venue and agenda of the meeting. Failure to follow the above, the general meeting is considered improperly called and so can be canceled. That notwithstanding, it wont be canceled if all the partners are available or represented.
That’s all for today concerning the management of partnerships in Cameroon. In my next post, I will talk about limited partnership. The limited partner has nothing to do with management in a partnership, unless they’re appointed.
If you need help in understanding the management of a partnership business, don’t hesitate to get in touch with us. You can get in touch with us with your need, especially content marketing, accounting, tax and legal by using the any of the mediums below. OpenHub Digital works with top advisors and content writers you can find in Cameroon.
If you plan to incorporate a business in Cameroon, don’t hesitate to get in touch with us below. Start, run and grow your business in Cameroon with OpenHub Digital!
Don’t hesitate to drop a comment or share with your network. Sharing is caring!
You can get in touch now!
Email: firstname.lastname@example.org | Tel: +237 699 421 947 | WhatsApp | Telegram
This content has been prepared for information purposes only. It is not intended to provide, and should not be relied on for, tax, accounting or legal advice. You need to consult your own tax, accounting or legal advisors before engaging in any transaction.