Usufruct of shares (art. 218 LGS)
Shareholder status belongs to the bare owner; the usufructuary is entitled to profits earned during the usufruct, subject to statutory limits.
What article 218
Article 218 governs the rights of the bare owner and usufructuary of shares.
Shareholder status belongs to the bare owner. The usufructuary is entitled to profits earned during the usufruct. This right does not include profits allocated to reserves or capitalized, but includes those corresponding to shares delivered as a result of capitalization.
Source: Law 19,550, art. 218 — InfoLEG (updated official text)
Commentary
The rule separates shareholder status from the right to economic fruits and is particularly relevant in succession and wealth planning for family businesses.
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