Periodic information during liquidation (art. 104 LGS)
The liquidator must report to the members at least quarterly on the status of liquidation and prepare annual financial statements if it is prolonged.
What article 104
Article 104 establishes the liquidator’s periodic reporting duty.
Liquidators shall report to the members, at least quarterly, on the status of the liquidation; in SRLs under article 299(2) and in stock corporations, the report shall be submitted to the statutory audit body. If liquidation is prolonged, annual financial statements shall also be prepared.
Source: Law 19,550, art. 104 — InfoLEG (updated official text)
Commentary
The rule ensures member oversight of a process that may last for some time: quarterly reports and, where necessary, annual financial statements. It prevents opaque liquidations.
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