State Act

Portuguese Civil Code, 1867

Article 1277 – Survival of society in respect of some of the shareholders - The society shall, however, continue, despite the death of any one of the shareholders, if it is agreed that, in such case, the society shall continue, through his heirs, or with the existing shareholders. § Sole paragraph - In the later case, the heirs of the deceased shall have right only to the part which the deceased had at the time of the death, according to the state of the society, and shall only participate in the rights and obligations which are subsequent and which are necessary dependence of the rights acquired by the deceased.