Corporate Governance Compliance

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TP LEGAL GROUP - Office

Corporate Governance Compliance.

By – Lic. Hector Torres.

To all our clients and friends, we would like to inform you that:

In accordance to Article 181, of the General Law of Mercantile Corporations, the Annual Partners’/Shareholders’ Meeting Minutes shall meet at least once a year within four months following the end of the fiscal year, and shall resolve at least the following:

  • Discussion, approval and/or modification of the managers’ report.
  • Election of the Board of Directors/Sole Administrator and/or Board of Managers/ General Manager and the Examiners.
  • Determination of the corresponding emoluments of the Administrators and Examiners, when they have not been fixed in the bylaws.

Likewise, in connection with Mexican foreign-owned entities, and in accordance with sections I and II of Article 32 of the Foreign Investment Law (the “Law”) and Article 43 of the Regulations of the Law, the Annual Economic Report (the “Report”) must be renewed by companies that during the previous fiscal year have had operations for an amount equal to or greater than $110’000,000 (one hundred and ten million pesos approximately at a rate of 18) Mexican currency.

Such Report must be filed as follows:

a) From A to J, during April of each year.

b) From K to Z, during May of each year.

In the event that you required assistance with the preparation of the Annual Partners’/Shareholders’ Meeting Minutes and/or the preparation of the Report, please do not hesitate to contact us.

Leobardo Tenorio-Malof   |   ltenorio@tplegal.net
Héctor Torres-López   |   htorres@tplegal.net
Alejandro Pedrín   |   apedrin@tplegal.net
Mauricio Tortolero   |   mtortolero@tplegal.net
Daniel Gancz-Kahan   |   dgancz@tplegal.net

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