Colombian Commercial Code - Decree 410 of 1971 - Book II - Of Corporations - Title III - General Partnership - Chapter II - The Name - From Article 303 to Article 309

COLOMBIAN COMMERCIAL CODE

CHAPTER II

The name

Article 303 .- The name is formed with the full name or surname only one or some of the partners followed by the words "and company", "brothers", "and children", or similar, if not include full names or the names of all partners.

You can not include the name of a stranger in the name. Who will tolerate, will be responsible for persons who have contracted with the society.

Article 304 .- The death of a member whose name or last name integrates not prevent the company

continue to use it as you continue with the heirs or when they, being capable, express consent. In such cases add the word "successors."

Article 305 .- When the name is formed with the full name or surname of a partner, and he cede its entire stake in society, can continue using the same name with the word "successors."

Article 306 .- The reason or firm name may be used only by persons authorized to represent the company. This, in turn, are only bound by the operations, in addition to being objects, are authorized to reason or corporate signature.

Article 307 .- Notwithstanding the requirements of the preceding article, the company liable for unauthorized transactions with your firm name in the following cases:

1. When they are executed or held by the representatives of society, corresponding to the ordinary course of company business, and the tenor of the title or the circumstances of the act and appear in a clear incurred by your account and your interest, or has resulting benefit;

2. When ratified, expressly or impliedly by society, and

3. When the third test of good faith that the company has voluntarily complied with other obligations in like manner.

Article 308 .- The acts carried out by administrators under the name, we were not statutorily authorized or were limited by law or by statute, but they acknowledge their personal responsibility. They must also indemnify the company for damages that cause and, if it's partners may be excluded.

Article 309 .- The name did not become part of the commercial establishments of the society, in the event of disposal of these may be transferred by agreement of the partners whose names or names appearing in it, who will continue to respond to third parties.