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[ESTABLISHING A BUSINESS ENTITY IN SPAIN]
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detrimental to the company’s best interests or where publication of the same may prejudice the company or associated companies.
company’s interests.
Information may not be withheld when requested by partners representing at least 25% of the capital.
Information may not be withheld when requested by partners representing at least 25% of the capital.
Financial and accounting Information Right Statements
Any shareholder is entitled to obtain the documents that have to be submitted to the general meeting for financial statements approval, and, as appropriate, the management and auditor’s reports.
Any member is entitled to obtain the documents that have to be submitted to the general meeting for financial statements approval, and, as appropriate, the management and auditor’s reports. Any member holding at least 5% of the capital, may examine (with an expert accountant) the accountancy and documents substantiating the financial statements, unless otherwise provided in the by-laws.
Appointing auditor (when is not mandatory)
Shareholders representing at least 5% of the share capital are entitled to request auditor appointment to audit the financial statements for a specific financial year.
Members representing at least 5% of the share capital are entitled to request auditor appointment to audit the financial statements for a specific financial year.
Right proportional representation at the Board of Directors to
Shares that are voluntarily grouped to constitute share capital amounting to or exceeding the sum resulting from dividing the capital by the number of members of the board of directors, shall be entitled to designate the number of members deduced from the proportion of share capital so grouped, rounding any fractions.
Unless provided in the by-laws, minority partners cannot be represented in the board in proportion to their stake in the company.
ILN Corporate Group – Establishing a Business Entity Series
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