VIRTUAL HOLDING OF CORPORATE MEETINGS      
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Esp / Ing

VIRTUAL HOLDING OF CORPORATE MEETINGS

On July 20, 2020, Ministerial Resolution MDPyEP 146.2020 was promulgated, which authorizes commercial companies and corporations to celebrate and carry out their social meetings (Assembly of Members, General Meetings, Board Meetings, and any other type of meeting which corresponds to the own affairs of a company) in person, virtually or using a combination of the two.

CORPORATE MEETINGS

Said regulations establish that corporate meetings may have the following characteristics:

  • Face-to-face: The one in which all attendees, members or not of the company, attend the physical location indicated for the holding of the corporate meeting in person.
  • Virtual: The one in which all attendees, members or not of the company, attend the main transmission or communication point determined for the holding of the company meeting virtually, through the use of Information and Communication Technologies ( ICTs)
  • Mixed: One in which a part of the attendees attends the corporate meeting indicated by the company in a virtual way and the other in person.

Likewise, the Virtual or Mixed Meetings will have as their main transmission or communication point the registered office the company has. Participation in company meetings, in any of its modalities, will be valid when the concurrent attends physically or virtually. To carry out virtual or mixed meetings, the company must guarantee that the transmission and communication is continuous and uninterrupted. Likewise, these meetings must allow the participants to participate and express their will in a broad, safe and continuous manner.

PROCEEDINGS

The minutes, arising from virtual or mixed corporate meetings, may be hand or electronically signed, respecting the provisions of the Commercial Code, the Deed of Incorporation, the Bylaws, constituent document or specific corporate regulations of each company. Likewise, the corporate meeting may determine the form and manner of signing the Minutes.

BOARD AND COMMITTEE MEETINGS

With regards to the meetings of the Board of Directors and Committees of the corporations incorporated in Bolivia, they may be held inside or outside the country. When they are virtual or mixed, they may have the point of transmission or communication in places other than the registered office, whether they are inside or outside the country.

LEGAL FORMALITIES

All the general provisions, contained in the Commercial Code, for commercial companies, regarding the assembly, quorum, voting, participation and other pertinent regulations (corresponding to the holding of company meetings) will be applicable to face-to-face, Virtual or Mixed meetings.