Pursuant to the Uruguayan Act Nº16.060, Corporations may have one of the following organizational structures:
- An open Corporation: must have an Executive Board (in Spanish: “directorio”) and a Supervisory Board (in Spanish: “Sindicatura o Comisión Fiscal”).
- A closed Corporation may have an Executive Board or one or more Managing Directors (in Spanish: administradores) only or with a Supervisory Board (in Spanish: “órgano de control interno”).
Limited Liability Companies:
Pursuant to the Uruguayan Act Nº16.060, Limited Liability Companies may have one of the following organizational structures:
- An Executive Board and a Supervisory Board.
- One or more Managing Directors and a Supervisory Board.
Please see, respectively, Executive Board, Managing 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.
Hughes & Hughes has provided all input about changing board members in Uruguay. H&H is one of the most prestigious law firms, widely recognized for its corporate and international practice and for its constant advice to foreign investors and multinational clients. H&H has participated in many of the most relevant M&A, financial transactions, and investment projects in Uruguay and has been consistently ranked at the top positions by the most important international legal publications.
For more information about Hughes & Hughes and changing board members in Uruguay, please use the below contacts:TEL: +598 29160988