Question: What is the procedure if my co-founder leave the company?
According to the Article 104 Law on Enterprise – Passing of the decision of the General Meeting of Shareholders, the procedure to dismiss the co-founder is provided that:
1. Meeting of Shareholders adopted under the authority of the decision by voting at the meeting or in writing opinions.
2. Where the company’s charter does not specify the decision of the General Meeting of shareholders on the following matters must be passed by voting at the General Meeting of Shareholders:
d) elect and dismiss the members of the Managing Board and the Supervisory Board;
3. The decision of the General Meeting of Shareholders passed at the meeting when all the following conditions:
a) number of shareholders representing at least 65% of the total voting rights of all shareholders attending the meeting; by specific percentages stipulated in the company charter;
4. The decisions adopted at the General Meeting of Shareholders to direct shareholders and authorized participants representing 100% of the total shares with voting rights is legitimate and effective even if the and procedure for convening the meeting agenda and modalities for the meeting were not implemented exactly as prescribed.
5. Where the decision is passed in the form of a written opinion, the decision of the General Meeting of Shareholders shall be adopted if the number of shareholders representing at least 75% of the total voting shares; by specific percentages stipulated in the company charter.
6. Decision of the General Meeting of Shareholders shall be notified to the shareholders entitled to attend the General Meeting of Shareholders for a period of fifteen days from the date of resolution passed qua.Trong other cases, in the the most recent meeting, the General Assembly of shareholders shall elect new members to replace members of the Board of Directors has been dismissed, dismissed.
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