Companies Act 19,550 · Article 240 — Directors and auditors at meetings
Directors and auditors at meetings (art. 240 LGS)
They have the right and duty to attend and speak at all meetings and vote only to the extent they are shareholders.
What article 240
Article 240 governs attendance of directors, statutory auditors and general managers.
Official text · Act 19,550, art. 240
Directors, statutory auditors and general managers have the right and duty to attend and speak at all meetings. They shall vote only to the extent they are entitled to do so as shareholders. Any contrary clause is void.
Source: Law 19,550, art. 240 — InfoLEG (updated official text)
Commentary
Those who manage and supervise must attend to report and answer to the governing body, without receiving voting power merely by virtue of office.
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