Companies Act 19,550 · Article 176 — Constitutive meeting
Constitutive meeting (art. 176 LGS)
Article 176 sets quorum and chairing rules for the constitutive meeting.
What article 176
Article 176 sets quorum and chairing rules for the constitutive meeting.
Official text · Act 19,550, art. 176
The constitutive meeting must be held in the presence of the intervening bank and chaired by an official of the supervisory authority; it is duly constituted with one half plus one of the subscribed shares. If it fails, the promotion ends and amounts paid are returned.
Source: Law 19,550, art. 176 — InfoLEG (updated official text)
Commentary
This is the meeting at which subscribers decide whether the company will be formed; the bank and public official reinforce transparency.
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