The partnership limited by shares (art. 315 LGS)
Article 315 of the General Companies Law characterizes the partnership limited by shares: the general partners are liable as in the general partnership and the limited partners restrict their liability to the subscribed capital, represented by shares.
What article 315
Article 315 characterizes the partnership limited by shares.
The general partner or partners are liable for the company's obligations as the partners of the general partnership; the limited partner or partners restrict their liability to the capital they subscribe. Only the contributions of the limited partners are represented by shares.
Source: Law 19,550, art. 315 — InfoLEG (updated official text)
Commentary
It combines the limited partnership with the corporation: there is a partner who manages and is liable without limitation (general partner) and shareholders who only risk their contribution (limited partners). A little-used type, useful when a manager with control and full liability is desired.
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