Colombian Commercial Code - Decree 410 of 1971 - Book II - Of Corporations - Part I - Partnership Agreement - Chapter XI - Matrices, Subordinated and Branches - The Art Of Art 260 265
COLOMBIAN COMMERCIAL CODE CHAPTER XI Matrices, and subordinate branches Article 260 .- Modified. Act 222 of 1995, Art 26. Subordination. A society is subordinate to or controlled when their power of decision is subject to the will of another or others to be their parent or controlling, either directly, in which case it will be called subsidiary or the competition or through the subordinate matrix, in which case they are called subsidiary. 261 .- Modified. Act 222 of 1995, Art 27. Presumptions of subordination. Society will be subject when in one or more of the following cases: 1. When more than fifty percent (50%) of the capital belongs to the matrix, directly or through or with the assistance of his subordinates or the subordinates of these. To this end, actions will not be counted with preferential dividend and no voting rights. 2. When the matrix and the subordinate jointly or individually have the right to cast the votes constituting the...