Companies Act 19,550 · Article 182 — Liability of promoters
Liability of promoters (art. 182 LGS)
Article 182 sets promoters’ liability in successive formation.
What article 182
Article 182 sets promoters’ liability in successive formation.
Official text · Act 19,550, art. 182
In successive formation, promoters are jointly and severally and unlimitedly liable for obligations incurred to form the company, including bank expenses and commissions. Once registered, the company assumes obligations legitimately incurred and reimburses expenses.
Source: Law 19,550, art. 182 — InfoLEG (updated official text)
Commentary
Before registration, promoters bear personal risk for formation obligations.
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