Companies Act 19,550 · Article 232 — Modification of bonus terms
Modification of bonus terms (art. 232 LGS)
Changes require consent of an absolute majority of holders of the relevant class, expressed at a meeting called under Article 237.
What article 232
Article 232 governs modification of the terms on which bonuses were issued.
Official text · Act 19,550, art. 232
Modification of bonus terms requires the consent of holders of an absolute majority of the bonuses of the relevant class, expressed at a meeting called by the company for that purpose under the procedure of Article 237.
Source: Law 19,550, art. 232 — InfoLEG (updated official text)
Commentary
Bonus-holder rights cannot be changed unilaterally; the class meeting provides collective protection analogous to that of share classes.
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