Companies Act 19,550 · Article 196 — Time limit for claim for violation of pre-emption
Time limit for claim for violation of pre-emption (art. 196 LGS)
The claim must be brought within six months after expiry of the subscription period and may be brought by the injured shareholder, directors or statutory auditors.
What article 196
Article 196 sets the time limit and standing for the Article 195 claim.
Official text · Act 19,550, art. 196
The actions under the preceding article must be brought within six (6) months from expiry of the subscription period. They may be brought by the injured shareholder or by any director or statutory auditor.
Source: Law 19,550, art. 196 — InfoLEG (updated official text)
Commentary
It is a short period requiring prompt action. Broad standing shows that pre-emption protects not only an individual interest but also proper corporate governance.
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