Colombian Commercial Code - Decree 410 of 1971 - Book II - Of Corporations - Title VI - Company - Chapter III - Management and Administration - Section II - Board - From: Section 434 to: Article 439
COLOMBIAN COMMERCIAL CODE Section II Board of Directors Article 434 .- The powers of the board shall be expressed in the statutes. The board shall consist of least three members, each have an alternate. In the absence of express provision to the contrary, the alternates shall be numeric. Article 435 .- There may not be on the boards formed a majority with people either related by marriage or kinship within the third degree of consanguinity or second degree, or first civil societies except recognized as family. If a board is elected contrary to this provision shall not act and will continue in office the previous meeting, which convened immediately to the assembly for new elections. Will lack any effectiveness of decisions taken by the board by a vote of a majority contravenes the provisions of this article. Article 436 .- The main and alternate board will be elected by the general assembly, for specified periods and electoral quotient, without prej...