Notes in Law 68

Retirement, death, civil interdiction, insanity or insolvency of a partner (Art. 1860)

1. Effect

1. Partner is a general partner – here, the partnership is dissolved. (Art. 1860)

2. Partner is a limited partner – here, the partnership is not dissolved except if there is no
more limited partner because in such case, the requirement that there must be at least
one limited partnership is no longer complied with. (See Arts. 1834, 1864)

2. Continuation of business

The business may be continued by the remaining general partners if:

1. The right to do so is stated in the certificate, or

2. all the members consent (Art. 1860)

Rights of executor/administrator on the death of a limited partner (Art. 1861)

1. All the rights of a limited partner for the purpose of setting his estate

2. To have the same power as the deceased had to constitute his assignee as a substituted limited
partner

Charging of limited partner’s interest

1. Creditor’s right to charge

The creditor of a limited partner may charge (i.e., subject to attachment and execution) the latter’s
interest in the partnership (Art. 1862)

2. Redemption

The interest charged may be redeemed with the separate property of any general partner, but not with
partnership property (Art. 1862)

This should be distinguished from the redemption of a partner’s interest in a general partnership which
may be redeemed not only with the property of one or more general partners but also with partnership
property (See Art. 1814)