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2021Update of the amount of the guarantee that directors and managers must provide in Argentina

October 13, 2021
Yesterday, the Public Registry of the City of Buenos Aires (the “PR”) published before the Official Gazette the General Resolution No. 15/2021 (the “Resolution”) establishing the new minimum and maximum amounts of the guarantees to be provided by directors or managers of corporations or limited liability companies.

In summary, the amount of the guarantee must be the same for all those designated which:

  • May not be less than 60% of the amount of the capital stock jointly among those appointed.
  • Must be equivalent to a guarantee amount individually of between AR$ 300,000 up to AR $ 1,000,000.

Previously, in no case could the amount of the guarantee be less, on an individual basis, than AR$10,000 or more than AR$50,000.

The Resolution will become effective as from October the 27th 2021, and applies to the proceedings that, as from such date, are filed in the PR.

Resolution

The official text of Resolution can be found at the following link.

 

Companies Law & Corporate Governance

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