Commercial Maritime Law
Art. 40Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
1. If the manager is a co-owner, he shall be liable in all his assets for debts
arising from the co-ownership. In case of multiple managers, they shall be
jointly liable in all their assets. Any agreement to the contrary shall not be
invoked against third parties.
2. Non-managing owners shall be jointly liable in all their assets for debts
arising from the co-ownership, unless agreed otherwise. Such agreement
shall not be invoked against third parties before it is entered into the ship
registry.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
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