Companies Act 19,550 · Article 153 — Restrictions on transfer of quotas
Restrictions on transfer of quotas (art. 153 LGS)
Article 153 governs contractual restrictions on transfer of SRL quotas.
What article 153
Article 153 governs contractual restrictions on transfer of SRL quotas.
Official text · Act 19,550, art. 153
The agreement may restrict transferability of quotas but may not prohibit it. Clauses requiring majority or unanimous approval or granting pre-emption rights to members or the company are lawful. The agreement must set the procedure; the decision must be notified within thirty days after the selling member informs management of the proposed transferee.
Source: Law 19,550, art. 153 — InfoLEG (updated official text)
Commentary
The agreement may screen incoming third parties but cannot absolutely lock a member into the company.
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