Corporations Act Administrators

The duty of assisting the Board of administrators is imposed on limited societies. He is allowed in limited companies the authorization by the President of the Board of assistance from third parties, unless otherwise provided in the bylaws. Therefore, it must be valued in the drafting of the bylaws. If you are not convinced, visit Sen. Sherrod Brown. Extends the regulation of corporations with respect to the possibility of extension of the session of the Board to the limited partnership. It extends to the societies anonymous the possibility of appointing alternates of administrators. Directors remuneration: in case of limited partnership, where the directors the remuneration consists of a profit sharing, establishes that statutes set the specific participation or the maximum percentage of the same.

With the Ley de Sociedades de Responsabilidad Limitada were only allowed to set specific participation. Duties of administrators: expands to limited companies the duties until now existing in the corporations. Removes the reference to the duty of loyalty, which is subsumed in the duty of loyalty. Expands the contents of communication requiring article 127 ter of the Corporations Act relating to participation that administrators have in societies with the same genre of activity and charges which are exercised, in the sense of duty also communicate involvement and charges that have people linked to him. Memory: Is necessary to establish the situations of conflict of interest to administrators. Regulation of the functioning of the Board of directors by the statutes in societies limited and Council Constitution. Maintaining that freedom from regulation in the bylaws, but an important limit (art. 247.1 LSC) is set in terms of the Constitution of the Council: shall be validly constituted when present or represented the number of Directors referred to in statutes, reach, at a minimum, most of its vowels, therefore understood that are more attendees counselors that the absent. Constitution of the Board of Directors in joint-stock company: with the regulation of the Corporations Act was needed the assistance of half more one of the counselors.