Term to appeal the controlling authority's decisions (art. 307 LGS)
Article 307 of the General Companies Law sets the term to appeal before the controlling authority at five days, with suspensive effect for fines and publications.
What article 307
Article 307 sets the term and effects of the appeal of the controlling authority's resolutions.
The appeal shall be filed before the controlling authority, within five (5) days of notification of the resolution. It shall be processed in accordance with article 169. The appeal against the penalties of warning with publication and fine shall be granted with suspensive effect.
Source: Law 19,550, art. 307 — InfoLEG (updated official text)
Commentary
The more serious penalties (publication and fine) are not enforced while under appeal (suspensive effect), protecting the company until a court reviews the matter. The short five-day term demands a swift reaction.
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