Article 1864
ELI5— what this means for you
The certificate shall be cancelled when the partnership is dissolved or all limited partners cease to be such.
Official text — RA 386
The certificate shall be cancelled when the partnership is dissolved or all limited partners cease to be such.
A certificate shall be amended when:
(1) There is a change in the name of the partnership or in the amount or character of the contribution of any limited partner;
(2) A person is substituted as a limited partner;
(3) An additional limited partner is admitted;
(4) A person is admitted as a general partner;
(5) A general partner retires, dies, becomes insolvent or insane, or is sentenced to civil interdiction and the business is continued under article 1860;
(6) There is a change in the character of the business of the partnership;
(7) There is a false or erroneous statement in the certificate;
(8) There is a change in the time as stated in the certificate for the dissolution of the partnership or for the return of a contribution;
(9) A time is fixed for the dissolution of the partnership, or the return of a contribution, no time having been specified in the certificate, or
(10) The members desire to make a change in any other statement in the certificate in order that it shall accurately represent the agreement among them.
Source: lawphil.net (RA 386 as amended)
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