Limited partner may not manage (art. 137 LGS)
Article 137 prohibits a limited partner from taking part in management and sets the sanction.
What article 137
Article 137 prohibits a limited partner from taking part in management and sets the sanction.
A limited partner may not interfere in management; if the partner does so, liability becomes unlimited and joint and several. Where managerial activity is habitual, liability extends to acts in which the partner did not participate. A limited partner may not act as agent either.
Source: Law 19,550, art. 137 — InfoLEG (updated official text)
Commentary
The limited partner’s liability shield depends on remaining outside management. Habitual management exposes the partner like a general partner.
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