Examples of Argentine Companies Law in a sentence
The shareholders limit their liability to the shares subscribed and paid in, pursuant to the Argentine Companies Law (Law No. 19550).
With respect to all matters not contemplated in this Indenture, meetings of Securityholders will be held in accordance with Argentine Companies Law.
In addition, as set forth in the Argentine Companies Law, the Shareholders’ Meeting decided to appoint Accountant Mr. Gabriel Orden and Mr. Rubén Lamandia to act as liquidators of Consolidar A.F.J.P. S.A. As of December 31, 2009 these gentlemen have been designated as the Company’s legal representatives.
Article 203 of the Argentine Companies Law establishes that the voluntary capital reduction will be decided by the Extraordinary Shareholders Meeting with a well-founded report provided by the trustee and must comply with some specific requirements, such as notices in the Official Gazette for the creditors to oppose to the reduction.
Corporations: Argentine Companies Law establishes special majorities for situations that are considered special cases, requiring for these cases that the decisions be adopted by majorities of shares with voting rights, without applying the plurality of votes.
In order to return proceeds from entities, as dividends or returns of capital there are specific rules provided by the Argentine Companies Law, as follows: Dividends.
In case of a capital increase in cash, Argentine Companies Law states that at least 25% of the funds must be paid in upon the resolution resolving the capital increase and the remaining 75% within two years from that date.LoansIrrevocable Capital Contributions.
The most common entities for investors to use are the corporation or single owner corporation (Sociedad Anónima / Sociedad Anónima Unipersonal) or the Limited liability company (Sociedad de Responsabilidad Limitada) The basic characteristics of each of these entities, according to the Argentine Companies Law, are set out below: Corporation (Sociedad Anónima, or “S.A.”) Capital is divided into shares of stock.
This requirement is not stated in the Argentine Companies Law but, in the regulations issued by the Public Registry of each jurisdiction.
The Argentine Companies Law establishes that distribution of dividends is legal only if it results from net profits arising from annual financial statements duly issued, and approved by the Annual Shareholders’ Meeting.