Companies Act 19,550 · Article 289 — Cumulative voting for statutory auditors
Cumulative voting to elect statutory auditors (art. 289 LGS)
Article 289 of the General Companies Law extends cumulative voting (art. 263) to the election of statutory auditors.
What article 289
Article 289 allows cumulative voting for the appointment of statutory auditors.
Official text · Act 19,550, art. 289
Shareholders may exercise the right recognized by article 263, under the conditions set forth therein.
Source: Law 19,550, art. 289 — InfoLEG (updated official text)
Commentary
The minority can also achieve representation on the statutory auditing body by using cumulative voting. It reinforces minority shareholders' control over the company's oversight.
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