Corporate Governance and Meetings
Objectives
- Describe governance bodies
- Draft and read minutes
- Use meeting resolution language
Explanation
Governance bodies: shareholders' meeting (asamblea), board of directors (junta directiva), officers (president, secretary, treasurer) and the comptroller (fiscal) in an S.A. Minutes (actas) record resolutions in the company's legal books. Resolution language: 'It is resolved that…', 'The meeting approved unanimously…', 'Quorum was established'.
shareholders' meeting
Meeting of company owners (asamblea de accionistas).
“The shareholders' meeting approved the accounts.”
quorum
The minimum attendance required for valid decisions.
“Quorum was reached with 80% of shares.”
resolution
A formal decision of a meeting.
“The resolution was adopted unanimously.”
minutes
The official record of a meeting.
“The minutes must be entered in the legal books.”
legal books
Mandatory corporate registers (libros legales).
“The company's legal books are digital.”