Colombian Commercial Code - Decree 410 of 1971 - Book II - Of Corporations - Title VI - Company - Chapter III - Management and Administration - Section I - General Assembly of Shareholders - From: Section 419 By: Art 433
COLOMBIAN COMMERCIAL CODE CHAPTER III Management and Administration Section I General meeting of shareholders Article 419 .- The general assembly meeting of shareholders shall constitute the quorum and conditions under the statutes. Article 420 .- The general meeting of shareholders shall exercise the following functions: 1. Which reservations must be made available in addition to the law; 2. Set the amount of the dividend and the form and time in to be paid; 3. order appropriate action against the directors, officers or auditor managers; 4. Freely elect and remove officials whose designation it appropriate; 5. Having determined that issuance of common stock to be placed subject to law of preference for which will require the affirmative vote of not less than seventy percent of the shares present at the meeting. 6. Take the measures necessary for the interests of society, and 7. The other duties specified by law o...