[BUYING AND SELLING REAL ESTATE IN CZECH REPUBLIC]
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c. In a Czech Joint-Stock Company with a monistic structure, the Management board fills both the supervisory and executive roles and is the company’s only corporate body. Members of the Management board are appointed by the General Meeting. The management board may also have only 1 sole member. dualistic structure, which is also currently used in Germany, is the most common structure of corporate governance in a joint-stock company in the Czech Republic. e. A company with a d. The dualistic structure has a Board of Directors and a Supervisory Board. The Board of Directors is the company's statutory (executive) body which is in charge of the company's business management. Nobody is authorized to instruct the Board of Directors as regards matters linked to business management. The
Supervisory Board is the controlling corporate body supervising the performance of the Board of Directors and the undertakings of the company. Nobody is authorized to instruct the Supervisory Board in controlling matters regarding the Board of Directors. f. The General Meeting is the third body of the a.s. in both types of corporate structure. It consists of all company shareholders. Its most important rights consist of (i) electing new members of the Board of Directors in the dualistic structure if the Memorandum of Association does not delegate this right to the Supervisory Board; (ii) electing new members of the Management Board in the monistic structure; (iii) deciding on the distribution of profits and amendments to the Articles of Association.
c) Liability
a. Only the company is liable towards
ILN Real Estate Group – Buying and Selling Real Estate Series
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