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Commercial Act — Article 283 (Death of Limited Partners)

상법 제283조

This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.

(1) Upon death of a limited partner, his/her successor shall succeed to the equity interest of the deceased in the company and shall become a member.

(2) Where, in cases falling under the preceding paragraph, there exist two or more successors, such successors shall appoint from among themselves one person who shall exercise the right of the member. If no such appointment is made, notice or peremptory notice of the company given to any one of the successors shall be effective upon all the successors.

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