Section 10Part 2 — Nature of a Limited Liability Partnership
Register of mort gages
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The limited liability partnership shall maintain or cause to be maintained at the limited liability partnership ’ s registered office, a register of mortgages in which shall be registered all mortgages specifically affecting the limited liabili ty partnership property and shall enter or cause to be entered in such register in respect of each such mortgage a short description of the property mortgaged, the amount of the mortgage created and the names of the mortgagees or persons entitled to such m ortgage.
A limited liability partnership property that is mortgaged without the entry required by subsection (1) being made, is in breach of subsection (1) and the Registrar may impose on the limited liability partnership and any partner who knowingly and wilfully authorises or permits the omission of such entry, a penalty of twenty - five dollars for every day during which the breach continues.
The register of mortgages described in subsection (1) shall be open to inspection by any person during normal business hours and if such inspection is refused, the limited liability partnership is in breach of this section and the Registrar may impose on that limited liability partnership, a penalty of twenty - five dollars for each day for which such refusal continues and, in addition to such penalty, a judge sitting in chambers may, by order, compel an immediate inspection of the register.