Pursuant to the provisions of the Civil Code (Law No. 10,406/2002) and the Corporation Law (Law No. 6,404/1976), both limited liability companies and corporations are required to conduct an Annual General Meeting within the first four months following the end of the social year.
Among the matters to be addressed at the meeting, the following are highlighted:
· Reviewing and approving the accounts of administrators, deliberate on the balance sheet and the income statement;
· Examining, discussing, and voting on the financial statements;
· Deciding on the allocation of net income for the social year and the distribution of dividends;
· Appointing the Officers, the members of the Board of Directors and the Fiscal Council, when applicable;
· Addressing any other matters within the competence of the quotaholders or shareholders.
For companies with a social year ending on December 31, 2024, the aforementioned Annual General Meeting must be held by April 30, 2025.
The respective Minutes of the Ordinary or General Meeting must be filed with the competent registration authority to have legal effect with respect to third parties.
At the same time, other contractual or statutory obligations should be evaluated, such as the need to prior submit documents to the Board of Directors, shareholders or quotaholders, obtaining an advance opinion from the Board of Directors on the management report and securing a report from the Fiscal Committee.
We emphasize it is very important to observe the deadline to maintain compliance with corporate obligations.
SAEKI ADVOGADOS' corporate team remains at your disposal to assist you with all the necessary procedures.