General Meeting

The General Meeting (“GM”) is the principal governing body of a Limited Liability Company (“LLC”) which is entitled to undertake the general management and direction decisions of the Company.

Division of Duties: The GM is in charge of at least approving: (i) the appointment of all executives and employees of the Company (if not deferred to other corporate bodies), (ii) any dividend distribution, (iii) reserves (iv) actions against administrators (v) capital increase (vi) reorganizations, spinoffs, mergers and amendments to the Bylaws and (vii) any resolution required in the best interest of the Company. Unless otherwise provided in the Bylaws, the Partners (Quotaholders) will be in charge of the management of the Company (including its legal representation).

[...]

Composition: The GM is composed by all of the Partners of the Company who shall be at least 5 and maximum 25. The GM may take place either: (i) in person; (ii) by simultaneous (e.g. teleconference) or successive (e.g. e-mail/fax conversation) electronic communication; or (iii) by written consent.

Appointment/Dismissal Competence: Not applicable.

Alternates: Not applicable.

NB! The processes for appointment and dismissal to the General Meeting are not described in more detail at the LCB site.

Fee quote

Posse Herrera Ruiz has provided all input about changing board members in Colombia- Posse Herrera Ruiz is [...] a Colombian law firm with broad international experience, a strong array of specialized legal services and the right capabilities to offer comprehensive and integrated legal advice.

Our team has more than 120 highly qualified lawyers and professionals committed to provide legal services of the highest standard in all of the practice areas we offer.

For more information about Posse Herrera Ruiz and changing board members in Colombia, please use the below contacts:

TEL: +57/1/325 73 00
EMAIL: gabriel.sanchez@phrlegal.com
WEB: www.phrlegal.com