Page 91 - Albanian law on entrepreuners and companies - text with with commentary

Article 56
Definition
(1) A partnership is a limited partnership, if at least one partner’s liability is
limited to the amount of his interest (limited partner), while the liability of other
partners is not limited (general partners). A partner whose liability is limited up to the
value of his contributions, shall be a limited partner. A partner whose liability is not
limited shall be a general partner. General partners have the status of partners in a
general partnership.
(2) Unless this part of the law provides otherwise, provisions on general
partnerships also apply to limited partnerships.

Article 57
Registration
(1) A limited partnership registers in accordance with Articles 26, 28, 32 and 34 of
Law No. 9723 on the National Registration Centre.
(2) Where the limited partnership has created a website, all data reported to the
National Registration Centre shall be placed on this website and be available to every
interested person.

Article 58
Legal Relationship between the Partners
The relations between partners are governed by Articles 59 to 61, unless provided
otherwise by the Statute. The Statute may also submit the limited partners to a
competition clause in deviation from Article 17.

Article 59
Management
(1) One or more general partners shall manage the business of the limited
partnership as Managing Directors. Limited partners are excluded from management.
(2) A limited partner may not object to the management of the general partner,
unless he is acting outside the normal conduct of the company’s business.

Article 60
Losses
The limited partner shall bear losses only up to the amount of his part of the
capital and to the amount of any outstanding contribution.

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