Liability for failing to protect minors (LGS art. 29)
Section 29 of the General Companies Law sanctions a breach of article 28 by making the representative, guardian or support person and the fully capable co-members jointly and severally liable without limit for damage caused to the minor or incapacitated person.
What article 29
Section 29 establishes liability in damages for failure to comply with the protection afforded to minor or incapacitated heirs.
Without prejudice to transformation of the company into an authorized form, breach of article 28 shall make the representative, guardian and support person of the minor, incapacitated person or person with restricted capacity, and the fully capable co-members, jointly and severally liable without limit for the damages caused.
Source: Law 19,550, art. 29 - InfoLEG (updated official text)
Commentary
This is the enforcement counterpart of article 28: those who were required to protect the minor or incapacitated person (as well as the capable co-members) are liable for damage if they placed that person in a membership position carrying non-limited liability. The company may also transform into an authorized form in order to cure the situation.
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