Thursday, September 3, 2020

Chapter 2. Managers

 Chapter 2. Managers

 

Art. 33. - Definition

 

1.    A manager is a person who has been authorised, expressly or tacitly, to carry out acts of management and to sign in the name of the trader.

2.    A manager is not a trader.

 

Art. 34. - Publicity.

 

1.    Where a manager has been appointed, the trader shall cause an entry to be made in the commercial register.

2.    The manager shall have power to act by virtue of his appointment, not-withstanding that the provisions of sub-art. (1) have not been complied with.

 

Art. 35. – Powers of Manager.

 

1.    In his relations with third parties, the manager shall be deemed to have full power to carry out all acts of management connected with the exercise of the trade, including the power to sign a negotiable instrument.

2.    Unless expressly authorised to do so, he may not sell or pledge immovable property, nor may he sell, hire or pledge a business.

 

Art. 36. - Restriction on powers.

 

1.    The powers of a manger may be limited to the management of a branch. Such a restriction shall not affect third parties in accordance with Art. 121 of this Code unless notice of such restriction has been entered in the commercial register.

2.    Any other restriction shall not affect third parties.

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