Alqanoni

Companies Law

Art. 53
Status unknownSaudi ArabiaRegulation

Issued by Ministry of Investment (misa.gov.sa)

1. A limited partner, or his designee, may, twice during the fiscal year, have access to the company’s operations, examine its records and documents, obtain a summary of the company’s financial status from such records and documents. 2. A limited partner may not interfere in the management of the company’s external activities, even with a power of attorney; otherwise, he shall be jointly and personally liable for the debts and liabilities the company incurs due to his interference. A limited partner may, however, participate in the management of the company’s internal activities in accordance with its articles of incorporation. The partner shall not be deemed liable for such participation, unless it leads third parties to believe that he is a general partner; in such case, he shall be deemed jointly and personally liable to such parties for the company’s debts and liabilities.

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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