Stock Corporations

Pursuant to the Bolivian Commercial Code, Stock Corporations (in Spanish: “Sociedades Anónimas”) must have one of the following organizational structures:

1. A General Meeting (in Spanish: “Junta de Accionistas”), a Board of Directors (in Spanish: “Directorio”), a Manager (in Spanish: "Gerente General"), and a Comptroller (in Spanish: “Síndico”); or
2. A General Meeting, a Board of Directors, a Manager, a Comptroller and an Executive Committee (in Spanish “Comité Ejecutivo”).

Limited Liability Companies

Pursuant to the Bolivian Commercial Code, Limited Liability Companies (in Spanish: “Sociedades de Responsabilidad Limitada”) may have one of the following structures:

1. A General Meeting (in Spanish: ”Asamblea de Socios”) and a Manager; or
2. A General Meeting and a Board of Directors.

Please see, respectively, “General Meeting”, “Board of Directors”, “Executive Committee” and “Manager”, in the left side menu for a more in-depth description of each structure, including how to change the respective board members. Please note that the “Comptroller” is not described in more detail.