Appointment of managers by the board (art. 270 LGS)
Article 270 of the General Companies Law allows the board to appoint managers (whether directors or not) to delegate executive functions, without excluding its own liability.
What article 270
Article 270 governs the appointment of managers and their liability.
The board may appoint general or special managers, whether directors or not, freely removable, to whom it may delegate the executive functions of management. They shall be liable to the company and third parties for the performance of their office to the same extent and in the same manner as directors. Their appointment does not exclude the liability of the directors.
Source: Law 19,550, art. 270 — InfoLEG (updated official text)
Commentary
This allows day-to-day management to be professionalized by delegating to managers, but without diluting the board's liability, which must supervise them. A manager is liable for their performance like a director.
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