The first articles of affiliation are adopted by the stockholders who are incorporating the company, and in addition to the weather from Article 246 may comprise a provision on appointment of administrators, i.e. In the case from paragraph 2 of this Article, the general assembly, i.e. The provisions of Article 447 of this Act relating to supervisory board of a joint inventory firm apply mutatis mutandis to the matters referring to the legal responsibility of the supervisory board members. A joint inventory firm is an organization whose share capital is divided in shares held by one or more stockholders who aren’t answerable for the company’s obligations, besides in the case referred to in Article 18 and Article 548 of this Act. members of the supervisory board. the supervisory board, in case of a two-tier management system, appoints the missing administrators, and until such appointment the remaining directors might attend only pressing issues, unless otherwise offered for by the memorandum of association or the decision of the general meeting.
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