SECTION 290

The company ends upon the death of a partner. However, the articles of association may provide that the company continues to exist either between the surviving partners, or between the surviving partners and the heirs or successors of the deceased partner, with or without the approval of the surviving partners. Where it is provided that the company shall continue only with the surviving partners, or where the latter refuse to approve the heirs or successors of the deceased partner or where they only approve some of them, the surviving partners must redeem from heirs or successors of the deceased partner or from those who have not been approved, their partnership interests. In the event of continuation and where one or more of heirs or successors of the deceased partner are unemancipated minors, the latter’s liability for the company debts shall only be up to the limit of the inherited partnership interests. Moreover, the company shall be transformed within a period of one (1) year following the death into a limited liability partnership in which the minor becomes a limited partner. Otherwise, the company is dissolved.