Quevedo & Ponce - Noticias Legales
The Superintendence of Companies, through Resolution No. SCVS-INC-DNCDN-2025-0001 dated March 7, 2025, has introduced an important reform to the "Regulation on General Meetings or General Assembly of Partners and Shareholders"
- March 25th, 2025
- Quevedo & Ponce
The Superintendence of Companies, through Resolution No. SCVS-INC-DNCDN-2025-0001 dated March 7, 2025, has introduced an important reform to the “Regulation on General Meetings or General Assembly of Partners and Shareholders.”
The modification consists of recognizing a proprietary right for partners and shareholders to freely and individually decide how they wish to participate in the general assembly sessions, whether physically or virtually, through videoconferencing or other telecommunication means.
This reform aims to guarantee the exercise of the right to participate for partners and shareholders. Under this provision, the administrator of the meeting will not be able to impose a single mandatory attendance mode. The convocation must reflect that partners and shareholders have the freedom to choose between in-person or virtual attendance.
Furthermore, it is established that, except in the case of universal meetings, the sessions must be held at the company’s principal address, as stipulated by the Companies Law, provided that all partners or shareholders choose to attend in person. In the case of mixed attendance, the session must also be held at the principal address, at the location specified in the convocation, respecting the participation mode chosen by each shareholder or partner.
Finally, it is stated that all other provisions of the regulation will apply, ensuring regulatory consistency and respect for the principles of legality and participation within the corporate sphere.
The reform applies to limited liability companies, joint-stock companies, partnerships by shares, mixed-economy companies, and simplified joint-stock companies.
For simplified joint-stock companies (S.A.S.), a specific provision is included, allowing the general shareholders’ meetings to be held both at the company’s principal address and outside of it, as established by the Companies Law, providing greater flexibility to this type of company.
At Quevedo & Ponce, we advise companies and shareholders to ensure compliance with legal provisions in corporate matters and strengthen participation in corporate governance bodies.
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