Ley 27 de 1888

Abstract

The image presents a news item called: Law 27 1888 (February 21), which reforms the commercial code. The National Legislative Council decrees: article 1 the government, for serious reasons of public necessity and previous opinion of the Council of Ministers how it will exercise in the future the supreme inspection over all the anonymous companies organized and established in the country as or that are organized and eradicated from now on, to which The Republic has granted or grants subsidies or aid in money, uncultivated land, exemption from customs duties or other concessions, or that has received or receives similar aid from other political entities. Article 2 The right of inspection consists of the Faculty to examine, through its agents as when the government deems it necessary, the work of said companies, their books, accounts, contracts and other document operations. Consequently, managers and other employees in charge of management or administration must make all the data referred to in this article available to the respective commissioned agent and facilitate the examination of the aforementioned works and operations article 3 will also have the right the president to intervene as when he deems it necessary, the elections that the general meetings and shareholders or the directives, or those that do their times, have to verify in accordance with the respective statutes the points this intervention extends to that the government can approve or disapprove the appointments made portal boards or assemblies general assemblies for the principles positions of the respective company. In case of approval, the person appointed will not be able to enter to carry out the position for whom he has been appointed Published in the official gazette No. 304 on February 24, 1888.