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Article (261)

A Limited Liability Company is a company in which the number of partners does not exceed fifty partners, and each of them shall only be liable to the extent of his share in the capital. If the number of the partners falls below two, the company shall turn, by force of law, into a single person company unless the company completes the number within thirty days from the date of pooling the company's shares into the hands of one partner.

The company shall not be incorporated nor its capital be increased nor any borrowing be made through public subscription. It shall not issue negotiable shares or bonds, and the transfer of partners' shares in it shall be subject to their right of retrieval and to the special terms and conditions included in the company's memorandum of association as well as to the provisions of this law.