The obligatory bodies of the Slovak LTD ( sro) are the general meeting and the executives. The Slovak Ltd ( sro ) can also set up a supervisory body but it is not obligatory.

GENERAL MEETING

(1) The general meeting shall be the supreme body of the company. It shall be authorized:

a) to approve actions taken by persons acting on behalf of the company prior to its incorporation,

b) to approve the ordinary individual financial statements and extraordinary individual financial statements, and decisions concerning the distribution of profits and coverage of losses,

c) to approve and to amend the company–s articles of association,

d) to decide on the amendments of the memorandum of association, if the law or the memorandum of association delegate such powers to the general meeting,

e) to decide on the increase and reduction of the registered capital and on any contributions in kind,

f) to appoint, remove and remunerate company executive directors,

g) to appoint, remove and remunerate members of the supervisory board,

h) to expel a member and to take decisions concerning the filing of requests,

i) to decide on the winding-up of the company or change of its corporate form, if the memorandum of association so admits,

j) decisions concerning approval of any agreement concerning sale of the enterprise, in full or in part,

k) to decide other matters, which this Act, the memorandum of association, or the articles of association entrust to the authority of the general meeting.

 

(2) Unless otherwise provided in the memorandum of association, or in the articles of association, as appropriate, the general meeting shall also decide the appointment and removal of a procurator.

(3) The general meeting may reserve the right to decide other matters, which would otherwise fall under the authority of other company bodies.

A member may attend general meetings either personally or through a proxy, on the basis of a written power of attorney. No executive director of the company and member of the company–s supervisory board shall be allowed to act as proxy of any of the members.

 

EXECUTIVES

Executives are the statutory body of the company. They act on behalf of the company and they participate on making business. Only a physical person is entitled to be an executive and he/she must provide his/ her criminal record. Here you can find more info about executives in Slovak ltd.

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