Page 88 - Albanian law on entrepreuners and companies - text with with commentary

Article 50
Procedure in Case of One Remaining Partner
(1) If for any reason only one partner remains, he shall either take all the
necessary measures to adapt the general partnership within 6 months to the
requirements of this law, or transfer its activity to a newly established company that
accepts the existence of a sole shareholder or continue the business as an entrepreneur.
(2) If within the time limit referred to in the previous paragraph a partner fails to
register the change with the National Registration Centre, the general partnership shall
be deemed dissolved and shall be liquidated pursuant to the provisions of this law. Any
interested person may address the court to determine the dissolution of the partnership.

Article 51
Continuation of Partnership with Heirs
(1) A general partnership shall continue with the heirs to a deceased partner, if so
provided by the Statute and accepted by the heirs.
(2) The heirs may exercise the right referred to in paragraph 1 within 30 days from
the date the court competent to issue the certificate of succession in accordance with the
Civil Procedure Code issued the same certificate.

Article 52
Entry in the National Registration Centre
All partners shall report the dissolution and the exit of a partner to the National
Registration Centre in accordance with Article 43 of Law No. 9723 on the National
Registration Centre. In case of dissolution by court decision, the court shall transmit the
decision to the National Registration Centre for registration in accordance with Article
45 of Law No. 9723 on the National Registration Centre.

Article 53
Solvent Liquidation of the General Partnership
After dissolution, solvent liquidation of the General Partnership shall be carried
out in accordance with Articles 190 to 205 of this law.

Article 54
Prescription of Claims against a Partner
(1) Claims against a partner for commitments of the general partnership must be
brought within 3 years after the dissolution unless the claim towards the general
partnership is subject to shorter prescription.
(2) Prescription starts from the day on which the dissolution of the company was
registered.

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