The Powers of the Managers of a Common Limited Partnership - CLP/SCS VII - #350-339*

The managers of a common limited partnership (CLP - société en commandite simple) may perform all acts in the name of the partnership that are necessary or useful for the fulfilment of the partnership's purpose. These provisions are not public policy (d’ordre public). Thus, and unsurprisingly in the case of an essentially contractual corporate entity, the partnership agreement may diverge.

Then, and still contractually, the partnership agreement may allow the managers of a CLP to delegate their powers to one or more proxies who are only responsible for the execution of their assigned mandate.

References : Articles 310-2, §4 and §3 of the law of 10 August 1915 on commercial companies as amended ; #344-333* What Is a Common Limited Partnership? CLP / SCS II, April 29, 2021, Bertrand Mariaux.

*Podcast #350

*YouTube Video 339* 

Bertrand Mariaux, Avocat à la Cour, LL.M. (hons.)

Prestation de serment (Swearing-in oath): Luxembourg (2011), Certificat d’Aptitude à la Profession d’Avocat, École de Formation professionnelle des Barreaux de la Cour d’appel de Paris (2009), Bond University (LL.M. (distinct.), International Legal Practice, 2010), Université Sorbonne Paris Nord & University of Limerick (Master in European & International Law - major in economics, 2008), certified Expert in Microfinance (Frankfurt School of Finance & Management, 2015), social entrepreneurship (University of Oxford, 2015 & The Wharton School of Social Policy & Practice, 2014) and social & solidarity economy (International Labour Organization Academy - Social & Solidarity Economy, Organisation Internationale du Travail - Économie Sociale et Solidaire, 2017)

Contributor: Cédric Buisine, Avocat