Sociedad por Acciones Simplificada
In Colombia aspects such as the limited liability; the suppression of the so-called ultra vires doctrine; period of good standing; removal of the one share, one vote rule; the remedies for the abuse of rights; the possibility to remove restrictions to business managers; the freedom to set forth rest...
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| Format: | Article |
| Language: | Spanish |
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Universidad Externado de Colombia
2009
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| Online Access: | https://dialnet.unirioja.es/servlet/oaiart?codigo=3133612 |
| Source: | Revista e-mercatoria, ISSN 1692-3960, null 8, Nº. 1, 2009 |
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| Summary: |
In Colombia aspects such as the limited liability; the suppression of the so-called ultra vires doctrine; period of good standing; removal of the one share, one vote rule; the remedies for the abuse of rights; the possibility to remove restrictions to business managers; the freedom to set forth restrictions on share transferability and simplified merger proceedings; all issues currently unavailable under colombian legislation. However, Law 1258 of 2008 incorporated into Colombian corporate law a new type of hybrid business entity, so-called �Simplified Stock Company� (S.A.S.). This hybrid business form is based on a basic principle: providing freedom to entrepreneurs in structuring their relationships through contractual provisions. The S.A.S. provides entrepreneurs with significant contractual flexibility, while still preserving benefits like limited liability. |
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