Composition of the meeting (art. 321 LGS)
Article 321 of the General Companies Law provides that the meeting of the partnership limited by shares is composed of both categories of partners, counting the general partners' interests as fractions equivalent to the shares.
What article 321
Article 321 governs the composition of the meeting of the partnership limited by shares.
The meeting is composed of partners of both categories. The general partners' interests shall be deemed divided into fractions of the same value as the shares for the purposes of quorum and voting. Any lesser amount shall not be counted.
Source: Law 19,550, art. 321 — InfoLEG (updated official text)
Commentary
General partners and limited partners decide together at the meeting; for voting, the general partners' participation is 'translated' into fractions equivalent to shares, unifying the count.
Do you need advice on this matter?
The firm is headquartered in Buenos Aires, Argentina, and advises clients worldwide.
Contact the firm