Companies Act 19,550 · Article 209 — Indivisibility and co-ownership of shares
Indivisibility and co-ownership of shares (art. 209 LGS)
Shares are indivisible; co-ownership is governed by co-ownership rules and the company may require a unified representative.
What article 209
Article 209 governs indivisibility and co-ownership of shares.
Official text · Act 19,550, art. 209
Shares are indivisible. If there is co-ownership, the rules on co-ownership apply. The company may require unification of representation for exercise of rights and performance of corporate obligations.
Source: Law 19,550, art. 209 — InfoLEG (updated official text)
Commentary
A share cannot be split as against the company. If several persons share it, they must unify representation for voting, dividends and other corporate matters.
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