Text of the provision
Art. 1862. On due application to a court of competent jurisdiction by any creditor of a limited partner, the court may charge the interest of the indebted limited partner with payment of the unsatisfied amount of such claim, and may appoint a receiver, and make all other orders, directions and inquiries which the circumstances of the case may require. The interest may be redeemed with the separate property of any general partner, but may not be redeemed with partnership property. The remedies conferred by the first paragraph shall not be deemed exclusive of others which may exist. Nothing in this Chapter shall be held to deprive a limited partner of his statutory exemption.
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
A creditor of a limited partner may obtain a charging order against his interest and a receiver; the interest may be redeemed with a general partner's separate property, but not with partnership property.
Related provisions
- Article 1861 — Death of a Limited Partner.
- Article 1864 — Cancellation and Amendment of the Certificate.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.