When drafting articles of association or contracts related to powers of attorney, you must ensure that the powers granted to the legal representative are duly restricted. Many companies take this logic ad absurdum and impose restrictions that make the operation of the company impossible. If you prevent the legal representative from signing contracts or set as a limit an amount that is too low in the transactions you must carry out, the approval of the minutes of the annual general meeting is required so that you can sign any document. However, there is no theoretical limit, so it always depends on the specific case of the company you run. The prerequisites for being a legal representative of a company are: The legal representative of the company is the person who can acquire rights on behalf of the company and enter into binding obligations for the company, as well as act before the courts and other authorities on behalf of the company. Legal representation allows the delegate to take over the business, duties and rights of the representative; manage and dispose of them in accordance with the conditions agreed at the time of the establishment of the representation. Both natural persons and companies, provided that such companies are represented by a natural person in the performance of their duties, may act as directors or legal representatives. The same thing will happen to any business. For this reason, it is necessary to limit the power of the legal representative to consult shareholders on decisions that may seriously affect the sustainability or future of the legal person. Does the legal representative have the legal right or entitlement to receive money, salary, fees or commission? What happens if this information is not provided in a letter of admission for representation at the Chamber of Commerce when taking up this position? As explained above, legal representation may exist with natural and legal persons and, in any event, the legal representative acts on behalf of his representative, so that he obliges him, as long as he does not exceed the parameters and conditions of the delegation of power entrusted to him.
Here are some of the responsibilities of a company`s legal representative: By law, at least one meeting per year must be held. In addition, if such powers are assumed, your legal representative may grant and withdraw powers to other persons. This function can be beneficial if a shareholder is not available and an obligation must be fulfilled in his absence. In general, the legal representative is the same director of the company who ensures the legal representation and the operational and financial management of the company, but this is not always the case. *In accordance with the company`s internal policies, we only participate in the company`s email forms. Please write to us from your company`s email and can help you. Accept the privacy policy Accept the newsletter For some legal persons, the legal representation is verified and legalized when registering in the commercial register, without the need to make this representation a public document, unless the legal representative as such appoints a third party to represent him in certain matters or special matters. The power of representation of the legal representative must be broad so that he can perform the most common functions in a company, such as: This might also interest you: Complete guide to the types of companies to start a business in Chile and Do you need a lawyer to change companies? and How is the change of a society made?. Accordingly, all Chilean or foreign natural persons who reside abroad and wish to receive RUTTs and wish to start their activities in Chile must appoint a legal representative (or a representative residing or residing in Chile). The mission of the legal representative is to defend the interests of the company and is the main decision-maker.
He has the power to sign contracts and bind the company. You can also review and control the day-to-day actions of the business and manage the company`s assets. Regardless of their quality (partners or third parties), the legal representative of a company always has the same role. He has the broadest powers to act in all circumstances on behalf of and on behalf of the company he represents. Every company registered in Spain must have a legal representative, i.e. a person acting on its behalf in the exercise of its functions, legal powers and statutes of the company itself. The legal representation of a company may be in the hands of a partner or a third party appointed by the shareholders. Becker Abogados is able to resolve all these conflicts and provides high-level legal representation in a variety of business and legal matters of a company. We offer practical, effective and efficient legal advice with specialized lawyers and experts in the corporate sector. The Commercial Code regulates what is related to the legal representation of commercial companies, but in general, the agent can sign contracts, assume obligations, comply, claim the rights of the representatives, etc. Becker Abogados advises you so that the appointment of the legal representative of your company meets your requirements.