Page 79 - Albanian law on entrepreuners and companies - text with with commentary

b) fails to transfer to the partnership any amount of cash he received on behalf of
the partnership in good time; or who
c) takes for himself money from the partnership without authorization;
shall pay interest starting from the day on which his contribution or the transfer
were due, or from the day on which he took the money.

Article 29
Increase or Reduction of Contribution
(1) No partner is bound to increase his contribution above the agreed amount or to
supplement it, if it is decreased by losses.
(2) No partner may reduce his contribution without the approval of the other
partners.

Article 30
Disposing of the Interest
(1) No partner may withdraw, transfer or pledge his interest without the approval
of the other partners.
(2) The transfer of interests among partners shall be unrestricted.

Article 31
Management
(1) All partners shall have the right to manage the business of the partnership as
Managing Directors.
(2) If the Statute has assigned management to one or several partners, the other
partners shall be excluded from management.

Comments:

1. Governance Structure. Management of the partnership is an important aspect of the
internal relations between partners. The main legislative objective is to strike a proper balance
between the practical requirements of operating a business firm, on the one hand, and of
protecting each partner's legitimate interest in controlling the partnership's business, on the
other.
The right to take management decisions normally lies with the partners, Article 31, i.e.
normally administrators will not be outsiders instead the role is performed by one or more
partners. However, Article 34 allows for the transfer of a partner's right of management to a
third party if all the other partners give their approval.
Management of the partnership is not only conceived as a right, but also as a duty. This
is necessarily so, because in the statute partners legally oblige themselves to cooperate so as

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