ILN: Establishing A Business Entity: An International Guide

[ESTABLISHING A BUSINESS ENTITY IN FRANCE] 196

STATUS OF SHAREHOLDERS

Limited to number of contributions

Limited to amount of contributions

N/A

Liability

Proof of ownership

Shareholders' accounts and share transfer register

Articles of association

Shareholders' accounts and share transfer register

N/A

Participate in meetings

Participation in decisions

Participate in meetings, written or deed consultation

Participate in meetings

N/A

Freely set by the articles of association

N/A

Rights to information

• at any time may request ( inter alia ): - annual accounts -

at any time may request ( inter alia ):

•

annual accounts

- -

performance figures for the last 3 financial years

articles of association

- -

list of members of the management bodies and auditors

list of gérants and auditors (if any)

15 days before ordinary general meeting must receive the formal documents (i.e. annual accounts, management report, draft resolutions to be passed, auditor's report (if any)) and may submit written questions which the gérant must answer

•

must receive the formal documents before the ordinary general meeting to approve the accounts (i.e., annual accounts management report, draft resolutions to be passed, auditor's report) and may submit written questions which the management body addressed must collectively answer

•

COLLECTIVE DECISION-MAKING

Procedure

• general meetings and videoconference • possible vote by post or by proxy

• general meetings or written resolution or videoconference • meetings are necessary: - to approve annual accounts - if requested by several shareholders • possible vote by post or by proxy

• general meetings, written resolutions or visio-conference • voting procedure freely set by the articles of association

• N/A

ORDINARY GENERAL MEETINGS

Scope of competence

• approval of accounts (meeting must be held at least annually for this purpose) • appointments and changes in membership of the management bodies and auditors

• approval of accounts (annual meeting must be held for this purpose) • appointment and removal of gérants • appointment of auditors • approval of regulated agreements

• procedure freely set by the articles of association

• N/A

ILN Corporate Group – Establishing a Business Entity Series

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