Companies Act 19,550 · Article 175 — Duties of promoters
Duties of promoters (art. 175 LGS)
Article 175 sets promoters’ duties and the bank’s standing.
What article 175
Article 175 sets promoters’ duties and the bank’s standing.
Official text · Act 19,550, art. 175
Promoters must carry out all steps and procedures necessary for formation up to the constitutive meeting. Actions to enforce these duties may be brought only by the bank on behalf of all subscribers.
Source: Law 19,550, art. 175 — InfoLEG (updated official text)
Commentary
Promoters drive the formation process, while the bank acts collectively for subscribers.
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