Content of the trust agreement (art. 339 LGS)
Article 339 of the General Companies Law establishes the content of the debenture trust agreement, executed by public instrument and registered.
What article 339
Article 339 details the content of the trust agreement.
The agreement, which shall be executed by public instrument and registered in the Public Registry of Commerce, shall contain: 1) the name and domicile of the company and its registration data; 2) the subscribed or paid-in capital; 3) the amount of the loan, the securities and other conditions of the issue.
Source: Law 19.550, art. 339 — InfoLEG (updated official text)
Commentary
The trust agreement is the legal framework of the loan: it defines the conditions, the securities and the trustee's powers. Its registration gives notice to third parties.
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