Single-act formation: requirements (art. 166 LGS)
Article 166 sets the content of the constitutive instrument for a stock corporation formed in a single act.
What article 166
Article 166 sets the content of the constitutive instrument for a stock corporation formed in a single act.
If formed in a single act, the instrument must contain the requirements of Article 11 and also: 1) the nature, classes, issuance terms and characteristics of shares and the capital-increase regime; 2) capital subscription, amount and form of payment and the term for the balance; 3) election of members of management and oversight bodies.
Source: Law 19,550, art. 166 — InfoLEG (updated official text)
Commentary
It adds to the general formation requirements the stock-corporation specifics: capital, shares, subscription, payment and initial corporate organs.
Do you need advice on this matter?
The firm is headquartered in Buenos Aires, Argentina, and advises clients worldwide.
Contact the firm