Limited Liability Companies
Pursuant to the Hungarian Act on the Civil Code, a Limited Liability Company (in Hungarian: “Korlátolt Felelősségű Társaság”) may have one of the following organizational structures:
- One or more Managing Directors (in Hungarian: “Ügyvezető”) and a Supervisory Board (in Hungarian: “Felügyelőbizottság”).
- One or more Managing Directors only.
Joint Stock Corporations
Joint Stock Corporations (in Hungarian: “Részvénytársaság”) may be established either as a Private or a Public Joint Stock Corporations. Pursuant to the Civil Code, a Joint Stock Corporation may have one of the following organizational structures:
Private Joint Stock Companies:
- A Board of Directors (in Hungarian: “Igazgatóság”) or a Chief Executive Officer (in Hungarian: “Vezérigazgató”) and a Supervisory Board (in Hungarian: “Felügyelőbizottság”).
- A Board of Directors or a Chief Executive Officer only.
Public Limited Liability Companies:
- A Board of Directors and a Supervisory Board.
- A Council of Directors (in Hungarian: “Igazgatótanács”) only.
Please see, respectively, “Managing Directors”, “Board of Directors”, “Board of Directors/Chief Executive Officer/Council of Directors” and “Supervisory Board” in the left side menu for a more in-depth description of each structure, including how to change the respective board members.
Nagy és Trócsányi has provided all input about changing board members in Hungary. Nagy és Trócsányi was [...] founded in 1991 with the aim of offering sophisticated legal services. We continue to seek excellence in a comprehensive, modern practice that spans international commercial and business law. Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+ countries worldwide.
For more information about Nagy és Trócsányi and changing board members in Hungary, please use the below contacts:TEL: +36 1 487-8700