Representation at the meeting (art. 239 LGS)
A shareholder may be represented, but directors, auditors, supervisory council members, managers and company employees may not act as proxies; a private instrument with certified signature is sufficient unless the charter provides otherwise.
What article 239
Article 239 governs shareholder representation by proxy.
Shareholders may be represented at meetings. Directors, statutory auditors, supervisory council members, managers and other company employees may not act as proxies. A proxy in a private instrument with certified signature is sufficient unless the charter provides otherwise.
Source: Law 19,550, art. 239 — InfoLEG (updated official text)
Commentary
Proxy voting facilitates participation while the incompatibilities prevent management from concentrating proxy votes in its own hands.
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