Preferred shares and voting (art. 217 LGS)
Preferred shares may be non-voting except for structural matters and while preferred benefits are in arrears or listing is suspended or withdrawn.
What article 217
Article 217 governs voting rights of shares carrying economic preferences.
Shares carrying economic preferences may be non-voting, except on the matters in the fourth paragraph of Article 244, without prejudice to their right to attend meetings and speak. They shall have voting rights while payment of their preferred benefits is in arrears and also if listed and their listing is suspended or withdrawn.
Source: Law 19,550, art. 217 — InfoLEG (updated official text)
Commentary
This is the typical preferred-share trade-off: economic advantage in exchange for reduced political power, with voting restored for major structural matters or while the preference is unpaid.
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