Election of statutory auditors by class of shares (art. 288 LGS)
Article 288 of the General Companies Law allows that, where there are classes of shares, the bylaws may provide for each class to elect its own statutory auditors.
What article 288
Article 288 governs the election of statutory auditors by class of shares.
If there are several classes of shares, the bylaws may authorize that each class elect one or more regular statutory auditors and an equal number of alternates, and shall regulate the election. Removal shall be decided by the meeting of the class, except in the cases of articles 286 and 296.
Source: Law 19,550, art. 288 — InfoLEG (updated official text)
Commentary
As with directors (art. 262), each class of shares may have its own statutory auditor, so that oversight reflects the diversity of interests among the classes.
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