Limited Liability Companies
Pursuant to the Hungarian Act on the Civil Code, a Limited Liability Company (in Hungarian: “Korlátolt Felelősségű Társaság”) may have one of the following organizational structures:
- One or more Managing Directors (in Hungarian: “Ügyvezető”) and a Supervisory Board (in Hungarian: “Felügyelőbizottság”).
- One or more Managing Directors only.
Joint Stock Corporations
Joint Stock Corporations (in Hungarian: “Részvénytársaság”) may be established either as a Private or a Public Joint Stock Corporations. Pursuant to the Civil Code, a Joint Stock Corporation may have one of the following organizational structures:
Private Joint Stock Companies:
- A Board of Directors (in Hungarian: “Igazgatóság”) or a Chief Executive Officer (in Hungarian: “Vezérigazgató”) and a Supervisory Board (in Hungarian: “Felügyelőbizottság”).
- A Board of Directors or a Chief Executive Officer only.
Public Limited Liability Companies:
- A Board of Directors and a Supervisory Board.
- A Council of Directors (in Hungarian: “Igazgatótanács”) only.
Please see, respectively, “Managing Directors”, “Board of Directors”, “Board of Directors/Chief Executive Officer/Council of Directors” and “Supervisory Board” in the left side menu for a more in-depth description of each structure, including how to change the respective board members.
Nagy és Trócsányi has provided all input about changing board members in Hungary.
Nagy és Trócsányi was founded in 1991 with the aim of offering sophisticated legal services. We continue to seek excellence in a comprehensive, modern practice that spans international commercial and business law. Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+ countries worldwide.
For more information about Nagy és Trócsányi and changing board members in Hungary, please use the below contacts:TEL: +36 1 487-8700