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Commercial Act — Article 86-5 (General Partners)

상법 제86조의5

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) General partners shall have the rights and obligations to execute and represent affairs of a limited partnership, unless otherwise provided for in a partnership agreement.

(2) General partners shall execute matters under paragraph (1) with the due care of a good manager.

(3) Unless otherwise provided for in a partnership agreement, where there exist two or more general partners, if a general partner objects to any act done by another general partner regarding execution of partnership's affairs, such act shall be suspended and follow a resolution adopted by a majority of general partners.[This Article Newly Inserted by Act No. 10600, Apr. 14, 2011]

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