Disqualification of managers from voting (art. 241 LGS)
Directors, statutory auditors, supervisory council members and general managers may not vote on approval of their management acts, their liability or removal for cause.
What article 241
Article 241 prohibits managers and supervisors from voting on approval of their own management, liability or removal for cause.
Directors, statutory auditors, supervisory council members and general managers may not vote on decisions connected with approval of their management acts. Nor may they vote on resolutions concerning their liability or removal for cause.
Source: Law 19,550, art. 241 — InfoLEG (updated official text)
Commentary
The rule prevents officeholders from judging themselves and protects objective shareholder oversight of management.
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