Amendments to commerce code

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  • Publicado : 18 de junio de 2010
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I. Amendments to the Code of Commerce:
The amended Code of Commerce provides that the registration
in the commercial folio will be optional for any individual
engaged in commercial activities andmandatory for all
commercial companies. Individuals engaged in commercial
activities will be registered by operation of law upon filing any
document which registration is required pursuant toapplicable
legislation.
Individuals engaged in commercial activities and commercial
companies will have an electronic commercial folio that must
include: (i) their name, corporate name or title; (ii)the type of
business or operations engaged in; (iii) the date when operations
will, or did commence; (iv) their domicile, specifying all
branches; (v) public instruments in which the incorporation,corporate transformation, merger, spin-off, dissolution and
liquidation of commercial companies are contemplated; (vi) the
first general meeting minutes and all documents related thereto;
(vii)the appointments of, and the outstanding powers of attorney
granted to officers, as well as their resignations and revocations;
(viii) spousal licenses and consents; (ix) pre-nuptial agreements(capitulaciones matrimoniales) and all documents amending such
agreements; (x) the documents evidencing all properties and
assets of their children or pupil under parental authority (patria
potestad) ofthe individual engaged in commercial activities; (xi)changes in their corporate name, domicile, corporate purpose,
term and the increase or reduction of the a company’s minimum
fixed capital; (xii)the issuance of stock, certificates and
debentures, reflecting the series and number of certificates
corresponding to each issuance, interest and amortizations, the
total amount of each issuance,and the goods, works, rights or
mortgages, which may affect their payment.
II. Amendments to the Companies Law:
In accordance with the amended Companies Law, stock
corporations are required to...
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