Libro I · Título I Capítulo III. De la Sociedad Colectiva
Article 59 General Partnership
A general partnership is one that exists under a firm name and in which all the partners are liable subsidiarily, unlimitedly and jointly and severally for the corporate obligations.
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Article 60 Limitation of Liability
The stipulation of the articles of incorporation that exempts the partners from the unlimited and joint and several liability shall have no effect as regards third parties; but the partners may agree among themselves that the liability of one or some of them be limited to a determined portion or quota.
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Article 61 Firm Name
The firm name is formed with the name and surname of one of the partners or with the surnames of two or more of them, with the mandatory addition of the words: y Compañía Sociedad Colectiva, which may be abbreviated: y Cía. S. C.
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Article 62 Name in the Firm Name
The person who, not being a partner, allows his name to appear in the firm name is subject to the same obligations and liabilities of the partners.
However, if the full name or the surname of a partner who has withdrawn from the company is to be kept in the firm name, because he so agreed with the other partners or his heirs authorized it, the word: Sucesores must be added to the firm name, which may be abbreviated: Sucs.
Otherwise, the obligations and liabilities indicated in the first paragraph of this article shall be maintained.
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Article 63 Administration in the Absence of Agreement
In the absence of an agreement designating one or some of the partners as administrators, all of them shall be administrators.
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Article 64 Supervision
The partners who are not administrators may appoint a delegate to supervise, at their expense, the acts of the administrators.
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Article 65 Resolutions at the General Meeting
The resolutions that by law or by provision of the articles of incorporation correspond to the partners shall be taken at a general meeting called by the administrators or by any of the partners. The call may be made by simple written personal notice, given at least forty-eight hours in advance of the meeting. The call must state with due clarity the matters to be deliberated.
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Article 66 Meeting with Full Attendance
Without prejudice to the provisions of the preceding article, the general meeting shall be validly constituted without the need for a prior call if, all the partners being present or duly represented, they decide to hold it, approving the agenda unanimously.
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Article 67 Representation of the Partners
Unless otherwise provided in the articles of incorporation, any partner may be represented at the general meeting by another person.
The representation must be conferred by mandate or by letter of proxy.
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Source: OMPI, WIPO Lex (texto oficial suministrado por Guatemala, con las reformas anotadas hasta el Decreto 55-2010). Machine-translated from the official Spanish text; Códice is not legal advice, always verify against the official publication.