Simple limited partnership (art. 134 LGS)
Article 134 defines the two classes of partners in a simple limited partnership and its name.
What article 134
Article 134 defines the two classes of partners in a simple limited partnership and its name.
General partners are liable for company obligations as partners in a general partnership, while limited partners are liable only up to the capital they undertake to contribute. The name shall include “sociedad en comandita simple” or its abbreviation; the firm name is formed exclusively from the names of general partners.
Source: Law 19,550, art. 134 — InfoLEG (updated official text)
Commentary
The form combines managing general partners with unlimited liability and passive limited partners whose risk is confined to their contribution.
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