Title I. Civil Personality (Chapter 3, Juridical Persons, Art. 44 - 47)

Question 1

What are the juridical persons under Art. 44?

Answer 1

The following are juridical persons under Art. 44:

1. The State and its political subdivisions;
2. Other corporations, institutions and entities for public interest or purpose, created by law; their personality begins as soon as they have been constituted according to law;
3. Corporations, partnerships and associations for private interest or purpose to which the law grants a juridical personality, separate and distinct from that of each stakeholder, partner or member.

Question 2

What are the classifications of Juridical Persons?

Answer 2

The following are the classifications of Juridical Persons:

1. Public Juridical Persons
2. Private Juridical Persons

Question 3

What laws govern the following:

1. Private corporations
2. Partnerships and associations for private interest or purpose

Answer 3

1. Private corporations are regulated by laws of general application on the subject (Art. 45, para 2).
2. Partnerships and associations for private interest or purpose are covered by the provision of the Civil Code concerning partnerships (Art. 45, para 3).

Question 4

In general, what determines the nationality of a corporation?

Answer 4

The nationality of a corporation is generally determined by the place of its incorporation.

Question 5

State Article 46.

Answer 5

Juridical persons may acquire and possess property of all kinds, as well as incur obligations and bring civil or criminal actions in conformity with the laws and regulations of their organization.

Question 6

How may the properties and assets of corporations, institutions and other entities for public interest or purpose be disposed upon their dissolution?

Answer 6

Upon dissolution, properties and assets are to be distributed:

1. By applying the provisions of the law or charter creating them.
2. If there is no such provision, the assets will be for the benefit of the place which was already receiving the principal benefits during the existence of the corporation or association