Cure of partnerships limited by shares (art. 387 LGS)
Article 387 of the General Companies Law allowed partnerships limited by shares (comanditas por acciones) incorporated without identifying the limited partners to cure the defect within six months.
What article 387
Article 387 sets out a transitional cure provision for partnerships limited by shares.
Partnerships limited by shares incorporated without identification of the limited partners may cure the defect within the term of six (6) months from the entry into force of this law, by a confirming public deed granted by all current partners and registered in the Public Registry of Commerce.
Source: Law 19,550, art. 387 — InfoLEG (updated official text)
Commentary
Transitional provision: it granted a term to regularize old partnerships limited by shares with incorporation defects. It has historical value.
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